Former US Treasurer Rosie Rios gave advice to Americans planning to invest in cryptocurrency for the first time in 2022. “The train has already left the station. Blockchain technology is here,” she said.
Rios: It’s Probably Too Late To Get In
The former US Treasurer under the Obama administration, Rios thinks that those who plan to invest in crypto or blockchain technology starting in 2022 should expect a crowded field. Rios compares it to riding a train, saying it’s probably too late to get in on the ground floor.
Currently a visiting scholar at Harvard University, Rios transformed her career from government official to investing and crypto.
Rios is currently a board member for blockchain startup Ripple. At the same time, she’s the CEO of the real estate consulting firm Red River Associates.
She’s also involved in the Amazon show “Unicorn Hunters” alongside co-stars Steve Wozniak and Lance Bass.
You Can Still Invest in Crypto and Blockchain, But Check For Growth
Rios advises that Americans who still want to invest in crypto, blockchain, or non-fungible tokens (NFTs) should stay level. They should stick to easy, basic questions about assets before investing.
These questions include: “Is the product practical?” or “Is there room for growth?”
However, many experts seem to see NFTs in particular as highly speculative assets. This is the reason why Rios will only invest in platforms with growth potential.
They should also provide real-world value or meaningful services. She added: “Whether there is intrinsic value is very meaningful to me.”
Rios Hopes That 2022 Will Bring Regulatory Clarity to Crypto
For Rios, an asset’s value means it can save a person real-world time or money. This is the reason why she joined Ripple. XRP, the blockchain’s cryptocurrency, features the ability to facilitate cross-border payments faster and cheaper versus forex services. She said that XRP is not about the future, as many people already use it all over the world.
In addition, the former US Treasurer also hopes that next year brings regulatory clarity to the crypto market.
Last month, a group of US regulators, including those from the Federal Reserve, said that they are working with Congress. They are developing clearer guidelines to help banks and other agencies manage their cryptocurrency assets,
Cryptocurrency Is Poised To Gain Wider Acceptance
By 2022, many expect a cryptocurrency to keep growing. Last November, crypto already reached more than $3 trillion in market value.
Little by little, companies are starting to accept payment in the form of select cryptocurrencies. These include Microsoft, PayPal, Tesla, and even Burger King.
Many others are planning to join. In fact, movie chain AMC said they’ll start accepting bitcoin, while WhatsApp said they’re testing a crypto payment feature.
In addition, the government will also need to provide clarity to blockchain technology, especially Ripple. The company is currently dealing with a Securities and Exchange Commission lawsuit over XRP.
Both sides are arguing if XRP is virtual currency or a security asset. The distinction remains key as calling XRP security will require even more regulatory scrutiny.
Watch the XRPlosion video showing former US Treasurer Rosie Rios saying “The train already left the station.”
What do you think of investing in cryptocurrency? Do you also agree that it might be too late for new players to invest in crypto in 2022?
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