According to a joint report released by Ripple and the Boston Consulting Group (BCG) on April 7, 2025, the market size for tokenized assets is expected to reach $18.9 trillion by 2033, with a compound annual growth rate of 53%. The report notes that tokenization in areas such as currency markets, private credit, and carbon emissions can enhance operational efficiency. However, it also emphasizes five major obstacles, including fragmented infrastructure, limited interoperability among platforms, uneven regulatory progress, inconsistent custody frameworks, and a lack of standardization in smart contracts.
Pierre Rochard, a seasoned Bitcoin supporter, is currently the CEO of The Bitcoin Bond Company. He first encountered Bitcoin in 2012 while studying at UT Austin, attracted by his interest in Austrian economics and open-source software. He co-founded the Satoshi Nakamoto Institute, which includes foundational works and the philosophy of cypherpunk regarding Bitcoin.
In his experience working with companies such as BitPay, Kraken, and more recently Riot Platforms, Rochard has focused on Bitcoin infrastructure and advocacy. At Riot, he led a response to environmental criticisms, including creating a viral parody video that successfully put critics on the defensive and redefined the discussion about mining and value creation.
Currently, Rochard's goal is to make Bitcoin more appealing to traditional credit markets through innovative financial structures. He plans to build a 'bankruptcy-remote, Bitcoin-only structure' with a clear lifecycle and risk layering to make it easier for traditional credit allocators to accept Bitcoin. His target is to acquire $1 trillion worth of Bitcoin over the next 21 years, depending on market conditions.
Regarding price cycles, Rochard believes the relevance of the four-year halving model in price prediction is decreasing. He points out that Bitcoin's compound annual growth rate is now linked to interest rates, emphasizing its role as a global macro asset. He believes education remains a major barrier but holds an optimistic view for the future, suggesting that Bitcoin-backed credit products will inevitably emerge in the financial sector.
In recent years, North Korea has stolen billions of dollars in cryptocurrency through complex cyberattack methods and used decentralized platforms for money laundering activities. Among these, cross-chain exchange protocols like THORChain have been used to convert stolen funds from one cryptocurrency to another, thereby concealing the source of the funds.
Moreover, North Korean hacker groups have infiltrated multiple blockchain companies by disguising their identities to obtain legitimate income and support their illegal activities.
The U.S. Treasury previously imposed sanctions on the cryptocurrency mixer Tornado Cash, accusing it of assisting North Korea in money laundering, but has recently lifted these sanctions.
These events highlight the necessity of strengthening regulatory and security measures in the cryptocurrency sector to prevent illegal fund flows and support malicious activities.
BlackRock CEO Larry Fink warned during a speech at the Economic Club of New York that the market could decline another 20%. Nevertheless, he believes the current market downturn presents a buying opportunity in the long term, as the situation does not pose systemic risks.
Fink pointed out that inflationary pressures are higher than market expectations, and many CEOs believe the U.S. may already be in a recession. Therefore, he anticipates that the Federal Reserve is unlikely to lower interest rates this year.
Additionally, Fink expressed concerns about the rising appeal of Bitcoin, suggesting that if people view it as a safer store of value than the dollar, it could undermine the dollar's status.
JPMorgan CEO Jamie Dimon warned in his annual letter to shareholders that the tariff policies recently implemented by President Donald Trump could lead to rising inflation and increase the likelihood of a recession in the U.S. He noted that these tariffs would not only raise the prices of imported goods but could also push up the costs of domestic products, slowing economic growth.
Dimon emphasized that while these tariffs may have their justifications, they could have significant short-term impacts on the economy. He stated, 'Recent tariffs may increase inflation and lead many to believe the likelihood of a recession is greater.'
Other financial leaders have also expressed similar concerns. BlackRock CEO Larry Fink stated that the market could further decline by 20%, and the U.S. economy may already be in a recession. Billionaire investor Bill Ackman warned that failing to suspend tariffs could lead to an 'economic nuclear winter,' damaging global relations and investments.
Additionally, investors such as Stanley Druckenmiller oppose high tariffs exceeding 10%, arguing that this amounts to a tax on consumers, which could lead to market instability and economic risks.
Recently, global markets have experienced significant volatility due to President Trump's tariff policies, causing Bitcoin prices to fluctuate dramatically. On the morning of April 7, during U.S. trading, rumors circulated that the Trump administration might delay the implementation of tariffs on all countries except China by 90 days. Following this news, Bitcoin’s price soared from $74,400 to over $80,000, while the Nasdaq index reversed from a nearly 5% decline to a 5% gain. However, White House Press Secretary Caroline Leavitt later denied these rumors, labeling them as 'fake news,' resulting in a market reversal, with Bitcoin prices dropping back to around $79,000, a decline of about 4.3% within 24 hours.
