Star Xu, founder of the cryptocurrency exchange OKX, stated that Bitcoin and the cryptocurrency market have entered a period significantly different from past cycles, and that blockchain technology could fundamentally change the global financial system in the next decade.
In a program he participated in, Xu, evaluating the development of the cryptocurrency sector over the last 15 years, reminded that Bitcoin has overcome many major crises since 2011. He stated that the sector has faced serious challenges repeatedly, from technical problems on the Bitcoin network to the collapse of Mt. Gox, from forks like Bitcoin Cash and Bitcoin SV to the FTX bankruptcy, and argued that after each crisis, the sector has become bigger and stronger.
According to Xu, Bitcoin and blockchain can no longer be considered merely speculative investment tools. The OKX founder stated that individual custody, peer-to-peer transfers, transparent blockchain infrastructure, Ethereum smart contracts, stablecoins, and tokenized financial assets are increasingly forming a larger financial ecosystem. Xu believes that blockchain will become a significant part of the world’s financial infrastructure in the coming years.
