The past year has seen multi-million dollar NFT sales, dogecoin drama, cryptocurrency price uncertainty, bitcoin-paid ransomware hackers, and growing concerns about the environmental impact of cryptocurrency mining.

There was a larger movement taking place behind these headlines. Cryptocurrency and the blockchain that supports it are being developed as a powerful, decentralized alternative to the dominant fiat system of money and banking.

As with many aspects of technology and society, the emergence of cryptocurrencies has accelerated during the pandemic. But how exactly and what is next? We asked many people who deal with cryptocurrencies in various capacities. Here's what they said.




Athan Slotkin, CEO Consultant, NFT maxi Says:

The fact that everyone was stuck at home and fully digital only intensified people's focus on digital development and specifically crypto and NFTs. As a result, this technology and these currencies, which have been around for years, have further increased in size. Crypto is already here to stay, but COVID has accelerated that journey.


Kosala Hemachandra, Founder and CEO, MyEtherWallet Says:

I'd like to think that cryptocurrencies are perfect for situations like a pandemic, and that's why cryptocurrencies have thrived throughout 2020. It's borderless. It doesn't matter if the airports are open or closed, or if people can or can't. Many financial institutions had to be closed, reducing the value associated with them.


Sole Cánepa, Technical Operations Manager, BitGive Foundation Says:

I don't think the pandemic has affected where Bitcoin is going or where it is now. Bitcoin may be affected by corporate and government adoption, the search for greener options for the mining industry, current Taproot improvements, and leveraged behavior (using brokerage money to make bets). Bitcoin is just going through a natural evolution as we have seen from the beginning. No surprises here for long-term bitcoiners.




Brent Johnson, Chief Information Security Officer (CISO), Bluefin Says:

The large-cap cryptocurrency has hit all-time highs in the past few months; including Bitcoin, Ethereum, Binance Coin, and Cardano to name a few. We are now seeing athletes being paid in crypto, card brands allowing crypto to be settled, major investment firms adding crypto to their portfolios, and even governments accepting crypto as legal tender.


Brianna Martyn, Blockchain Consultant Says:

Ethereum and NFTs have gone from buzzwords used by traders and technologists to digital assets known around the world. Discussions about money supply, inflation, digital rights, proof of ownership, and smart contracts are now part of the financial world and are likely to grow in the coming years. Bitcoin went from a white paper concept to an official reserve currency in just 12 years. We feel like once-in-a-lifetime changes unfold before us. I can't wait to see what kind of innovation and growth the next decade will bring to the digital world.


Kathleen Breitman, Co-Founder, Tezos Says:

What is interesting about the growing popularity of NFTs in the cryptocurrency space is that they have managed to attract newcomers to the technology. In March, press coverage of the environmental impact of the Ethereum platform managed to dampen the enthusiasm of many famous people who were looking at NFTs as a way to monetize some aspect of their creativity. It was the first time I saw people who were skeptical of cryptocurrencies look at them as a potential solution for their business and care about the technology underneath in a meaningful way. To me, this has been the most transformational change I have seen in the industry to date.




Brian Mosoff, CEO, Ether Capital Says:

Before 2020, cryptocurrencies were largely driven by tech-savvy retail investors. Institutions and traditional investors have largely written off software or algorithmic monetary policy. As concerns about inflation arose due to the pandemic, the group began looking to an alternative asset class as a hedge.


Tegan Kline, co-founder of Edge & Node Says:

The pandemic has accelerated cryptocurrencies. The monetary policy response has encouraged investment appetite for alternative stores of value. Stay-at-home orders unleashed a recreational appetite to engage in cash farming, which ushered in a defiant summer.


Hossein Azari, former senior researcher at Google and founder of mqre Says:

The pandemic has amplified some of the value propositions of crypto and decentralized finance. We learned that our original financial system would do better if it sent stimulus money to American businesses and individuals. With decentralized finance, we remove/reduce dependence on centralized and legacy financial systems and modernize to maintain leadership in the economy.




Jonas Rey, Co-Founder and Managing Director, Liti Capital Says:

El Salvador has just announced that its businesses are now required to accept Bitcoin as currency. Instead of world powers, it will be small countries that make the change first and cause a massive revolution around the world. As more and more people transition, large countries and entities will be forced to adapt to cryptocurrency. Like all revolutions, the global financial revolution will start from the ground up and be driven by financial inequality and lack of access to the tools that have historically been used to keep the same people down.


Colin Pape, Founder, Presearch Says:

Part of this societal shift is being driven by people who see Big Tech's far-reaching control over their digital and financial lives. In the same way [crypto] challenged the financial status quo, decentralization using blockchain technology will disrupt the dominance of Big Tech, giving people access to unbiased information online, as well as greater ownership of their data and true digital privacy.




Betsy Cooper, Aspen Institute Says:

The pandemic hasn't changed the trajectory of cryptocurrency as much as it has changed the trajectory of criminals. As a result of the pandemic, more people were desperate for quick capital and more criminals had time to figure out how to deploy ransomware. As criminal activity grew, so did the use of cryptocurrencies for payment.


Kevin Mandia, CEO, FireEye Says:

It used to be that if you were an attacker and wanted to monetize your hacking skills, you hacked into computers and stole credit card information. Now you can deploy ransomware or you can steal documents and force the fact that you publish this information. Digital currencies are anonymous currencies, so now you can commit a crime from 10,000 miles away from the victim and remain anonymous while collecting payment. There is no doubt that digital currency as it exists today enables cybercrime.


Jeff Gluck, Founder, CXIP Labs Says:

NFTs represent the unprecedented creative and financial potential for artists, but the potential for fraud, theft, and data loss has never been greater.


Matthew Rogers, CISO of Americas, Syntax Says:

Companies that have facilitated cryptocurrency payments over the past year will they allow individuals to become targets of ransomware attacks as opposed to just businesses as we often see. This is likely bad news for the industry and could lead to even more ransomware attacks on a wider range of people and businesses.




Robert E. Siegel, Lecturer, Stanford Graduate School of Business Says:

We need to separate the recent hyper-speculative activity of the crypto market from the fundamentals of what crypto and blockchain will bring to society over time. In the latter, ideas and technologies have the potential to be transformative but, the recent frenzy is not based on fundamentals; rather, it is driven by a world awash in liquidity and zero percent interest rates from governments. Money is sometimes made in times of speculation. Usually, the money is lost.



Philip Gradwell, Chief Economist, Chainalysis Says:

Dogecoin gained attention from meme lords and investors alike, bridging the gap between finance and pop culture. Dogecoin trading volume was among the top 10 cryptocurrencies, ahead of XRP, USDC, DOT, and UNI. At first, glance, what started as a joke. That tremendous growth showed how the power of the Internet dumped all the rules about investing out the window. Dogecoin may just be a meme, but it probably raised more awareness than the $19.6 billion US financial services spent on digital advertising in 2020.


Ian Khan, Futurist Says:

The future of Bitcoin and cryptocurrencies, in general, will continue to fluctuate and make waves. One of the reasons is that this is a highly hype-based crypto era where influencers like Elon Musk and others will continue to play on the emotions of an already stressed investor community desperate to recover from a global pandemic.

Continue Reading the pump and dump monopoly in cryptocurrency business.



Diogo Monica, co-founder, and president of Anchorage Digital Says:

It's a foregone the conclusion that cryptocurrencies are here to stay, and sophisticated investors know that noise will always be a part of it.


Rob Chang, Co-Founder and CEO of Gryphon Mining Says:

I believe we will look back on this period as the point when the general public was allowed to take a really hard look at cryptocurrencies and learn that coins like Bitcoin are not "magical internet funny money" but instead legitimate, decentralized ways of transacting value without the shackles of banking institutions and government control/devaluation.


Nigel Green, CEO, and Founder of deVere Group Says:

The rapid pace of digitization of economies and our lives means that the demand for digital, global money without borders will increase from now on. With regard to digital currencies, the genie can't be returned to the container.