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The crypto market continues its meteoric rise following the 2024 elections, with bitcoin (BTC-USD) surpassing an unprecedented $92,000 on November 18 and showing no signs of slowing down.
In this episode of Stocks in translationYahoo Finance Markets and Data Editor Jared Blikre and Producer Sydnee Fried welcome Eddie Johnson, author and CEO of Grow My Bag TVto discuss the latest developments in the crypto and Web3 space.
The conversation will delve into Web3 – the next generation of the internet – focused on decentralization, user ownership and blockchain technology. “For the average person, this is the next level of the internet,” Johnson says. “Web3 introduces a way to actually immerse yourself in different worlds and experience different things.”
Johnson distinguishes between Web2 and Web3, describing the latter as an evolution rather than a replacement: “Web3 is an improvement on Web2; it looks a bit like an overlay, while Web2 was a complete replacement of Web1.”
Looking ahead, Johnson predicts that crypto will become a widely accepted payment currency within the next five years. “The amount of time it took to accept credit cards was decades. The amount of time to accept crypto changes in a decade,” he notes.
When asked about leadership at the Security and Exchange Commission (SEC) to regulate cryptocurrency, Johnson calls for SEC Commissioner Hester Pierce to be promoted to SEC chairman.
“There was one person I just wrote an article about who decided to take herself out of the running, and that's exactly why you should let her take the job. And it's Hester Pierce,” he explains. “If I wanted to replace anyone, I think she would have the most pragmatic approach to regulating crypto. And so I would absolutely convince her to take that job.
Twice a week, Stocks In Translation cuts through the market chaos, noisy numbers and exaggerations to give you the information you need to make the right trade for your portfolio. You can find more episodes hereor check your favorite streaming service.
This post was written by John Tejada.
