Twitter Reacts to Crypto Fear-Mongering at Davos WEF

[mayuri27]

While cryptocurrencies have been a talking point at previous World Economic Forum conferences, they have come to the fore in Davos this year.

Following a breakout year which saw Bitcoin rise to an almighty high of $20,000, alongside the massive growth of other altcoins, it’s hardly surprising that one of the major talking points at WEF would be the future of cryptocurrency.

With financial industry leaders coming together at the most important annual event on the economic calendar, media outlets took their chance to ask the top minds for their two cents worth on the current and future prospects of virtual currencies.

Cointelegraph is currently attending the summit in Davos and has reported continual resistant perceptions towards cryptocurrencies.

These views stem from a lack of a regulatory framework for virtual currencies which has made some of the world’s prominent banking and financial institutions hesitant about investing and supporting cryptocurrencies.

UBS Chairman Axel Weber said as much in an interview with Bloomberg, saying his firm would not recommend cryptocurrency adoption or investment to its clients until there is clarity on future regulatory action.

As per usual, the vibrant and feisty cryptocurrency community has been watching developments at Davos keenly, and there has been plenty of backlash in response to any FUD or untoward comments about cryptocurrencies.

Twitter hits out at Davos FUD
Full Tilt Capital Partner Anthony Pompliano was scathing in his analysis of the prevailing sentiment floating around in Davos towards Bitcoin.

The former Facebook product and growth manager suggested that statements made by economist Joseph Stiglitz that Bitcoin was still used for shady purposes actually has the opposite effect of driving people away from cryptocurrency adoption.

[abdmuiz]

I think crypto will replace the paper money in the future