In a recent CNBC interview, Canopy Capital founder and CEO Eric Golden said Bitcoin, the leading cryptocurrency by market capitalization, is a “long road” from becoming the world's reserve currency.
“We've come a long way to see it happen,” he told CNBC's “Squawk Box” host earlier this Tuesday.
That said, Golden believes that Crypto is a “really attractive” vehicle that makes sense in people's portfolio.
The importance of stablecoins
Golden, who previously stinted at Fidelity Investments, claims to be “obsessed” with Stablecoins since his days at Fidelity.
“Now, I think you're seeing how powerful the stubcoin is,” Golden said.
In March, Reuters reported that Fidelity was pondering its own stubcoin.
Golden hopes that the Genius Act, which aims to regulate stubcoins, will be voted in Congress later this week. The law would “lay the foundation” for a more regulated stubcoin.
He added that he wouldn't be surprised if more players would enter the space in the near future.
SEC Cryptographically Friendly U-turn
Golden recalls starting his company during the days of former SEC Chairman Gary Gensler. This has made it very difficult to start a company.
Following the departure of SEC Chairman Gensler, the agency quickly began to abandon aggressive crypto police, explicitly challenging the crypto-freedi approach.
