Ativos Digitais Podem Redefinir e Rivalizar Classes de Ativos Tradicionais

Por 13 anos e contando, o ecossistema de ativos digitais tem se expandido lentamente e se estabelecido como uma presença que permanecerá no futuro previsível.  Apesar de seu crescimento impressionante nesse período, ainda há um enorme potencial que ainda não foi realizado.  Na verdade, fundos de investimento como a ARK Invest acreditam que, até 2030, as classes de ativos tradicionais serão rivalizadas por suas variantes digitais.

Com base em sua pesquisa compartilhada em um relatório intitulado ‘Big Ideas 2023‘, a ARK Invest acredita que, até 2030, os ativos digitais terão uma capitalização de mercado de aproximadamente $25 trilhões.  Deste total, $20T serão atribuídos às criptomoedas, enquanto os $5T restantes representarão contratos inteligentes.

Fonte: Ark Invest ‘Big Ideas 2023’, Página 54

A ARK Invest não está sozinha em suas expectativas futuras para os ativos digitais.  Outros, como o Boston Consulting Group (BCG) e a ADDX, previram que, até 2030, a tokenização de ativos sozinha representará uma oportunidade de $16T, equivalendo a aproximadamente 10% do PIB global.

Participantes do Mercado e Inovadores

Before we take a closer look at how digital assets can achieve these lofty expectations in the coming years, the following are a few companies of note for investors looking to gain exposure to the sector.

Coinbase (COIN)

Over the years, the Coinbase has evolved from being a simple exchange to offering a comprehensive suite of products for the digital asset enthusiast.  In addition to this, it is widely regarded as one of the more trustworthy and regulated companies within the sector.  Through offerings like Coinbase Custody, Coinbase Prime, and more, the company holds appeal to both retail and institutional investors alike.

Based out of California, United States, the Coinbase was founded in 2012 and employs ~3,500.

INX (INX)

INX is a digital asset exchange built for the future, supporting a wide array of digital asset classes.  While the exchange maintains a focus on digital securities, INX also provides access to digital assets like Bitcoin, Ethereum, and more.

Investors that believe in INX and what it is trying to achieve, can gain exposure to the exchange through INX Tokens.  These tokens are particularly noteworthy, as they represent ‘the first SEC-registered security token to IPO on the blockchain’.

The comprehensive platform on offer by INX is made possible through operations spanning Canada, United States, and Gibraltar.

MicroStrategy (MSTR)

At this point, the MicroStrategy stock is essentially a proxy for investing in Bitcoin (BTC) itself.  For multiple years now, the MicroStrategy has rapidly been accumulating BTC for holding in its treasury, as the company believes it is the ultimate hedge, and the currency of tomorrow.

Aside from its operations as a software and analytics company, the MicroStrategy has now embarked on various initiatives meant to further development of Bitcoin scaling solutions like the Lightning Network.

In 2022, the MicroStrategy boasted a revenue of nearly $500M.

Casos de Uso que Expandirão o Ecossistema de Ativos Digitais

Então, como exatamente fundos de investimento como a ARK e consultorias como a BCG esperam que os ativos digitais alcancem uma capitalização de mercado tão elevada até 2030?  Não há uma única resposta.  Em vez disso, é a flexibilidade/versatilidade da tecnologia blockchain que permitirá a transformação de diversos setores.  A seguir, alguns exemplos do que isso pode envolver.

Tokenização de Ativos

Até o momento, a tokenização de imóveis parece ser um dos exemplos mais promissores de como tais market-caps podem ser alcançados.  Apesar do potencial de propriedade de imóveis gerar retornos robustos, a classe de ativos é tradicionalmente plagada por baixa liquidez e ineficiências – cada problema resolvido através da tokenização.

Tokenization of real estate can also occur in both a commercial and residential setting.  One example of a commercial real estate tokenization effort that has done well over the past few years is St. Regis Aspen Resort and its security token called ‘ASPEN COIN’.

Beyond real estate, various niche applications of tokenizing real-world assets have popped up over the past few years.  These include art, cars, whiskey, wine, and more.

Produtos de Dívida

Digital securities go beyond tokenizing tangible, illiquid assets.  We are now seeing an increasing amount of companies and governments opting to tokenize financial products such as bonds.  Most recently, this was on full display by the following,

• Siemens Issues €60M Bond
• Hong Kong Raises $102M in Tokenized Bond Offering

By taking such an approach, issuers are able to complete such initiatives in a more timely manner, while also benefitting from the cost savings by eliminating the need for unnecessary third parties.

For those interested in learning more about such bond offerings, we recently highlighted various other examples HERE.

Reservas de Valor

Perhaps future marketcaps will not be facilitated by reimagining how we invest in real world assets.  Perhaps they will come from making select examples obsolete altogether.  An example of this may one day be Gold – a store of value often noted as being the low-hanging fruit for Bitcoin to steal capital from.

If Bitcoin continues to boast increased adoption, many believe that its volatility will diminish.  Although this has yet to occur, combined with its fixed supply, ease of transport, global presence, and lack of a centralized controlling body, it is not hard to envision a scenario in which this could happen.  If it does, Golds $12T marketcap may quickly diminish as capital flows into an asset built for the future.

Remessas / Transferências Transfronteiriças

Whether it be Bitcoin, a stablecoin, or some other project, the use of digital assets in cross-border transactions and the remittance industry has the potential to be game changing.  If the use of digital assets in such scenarios becomes the norm, it will mean massive adoption on a global scale.

This particular use case continues to show promise, as various countries in which remittance plays an important role are showing increasing levels of adoption, as digital assets like Bitcoin can be transferred as easily to someone on the other side of the world as they can to someone sitting next to you.  In addition to this, the cost and speed of such value transfers remains the same.

Pagamentos

Bitcoin in particular appears to have the best chance at succeeding as a viable form of payment for everyday goods.  Sure, there are other projects that are quicker than Bitcoins base layer, but they do not boast the same levels of adoption and first movers advantage.  Furthermore, the belief that Bitcoin is too slow and expensive for function for everyday purchases is no longer a valid argument with the advent of the Lightning Network.

The Lightning Network in particular is a layer-2 solution that transforms Bitcoin into a platform which can handle millions of transactions per second, each costing fractions of a penny, near instantaneously.  As this solution continues to grow, and become more accessible to the masses, it has the potential to allow for Bitcoin to truly begin stealing market capital from not only rival digital assets, but traditional currencies as well.

Palavra Final

Each of the above examples are but a few of the scores being developed each day.  When looking at the versatility of digital assets to change the way we invest and interact with so many asset classes, it is hard to not envision a future in which they rival or redefine the status quo.