Crypto Academy CEO Granit Mustafa: Blockchain will “redefine digital finance”

There is perhaps no more polarizing topic in financial circles than cryptocurrencies.

For some, the concept of blockchain is a total waste of time, good for nothing other than building worthless cryptocurrencies for traders to speculate on. The downside, however, is that despite the bear market we are currently in, more and more money, resources and smart minds are flowing into the space.

We interviewed Granit Mustafa, CEO of Crypto Academy, to get his thoughts on the ongoing bear market, crypto’s long-term future, its polarizing nature, and more.

Coinjournal (CJ): Do you find that crypto newbies are sometimes put off by the perceived complexity and technical knowledge required to properly understand blockchain?

Granit Mustafa (GM): In any case. Although many business leaders have a flair for running businesses and rely on experts for industry-specific expertise, deep understanding of an unpredictable industry appears to be a key factor in intimidating potential traders, investors and entrepreneurs.

It can be daunting for institutional and individual participants to achieve anything in this industry. On the other hand, there are so many people who want a piece of the new and rapidly evolving industry that they dive in headfirst without having all the information.

Although the technical details and technology itself are downright complex, the concept behind blockchain and cryptocurrencies is subsequently quite simple, which I think makes people want to get involved anyway.

At best, engagement in the industry itself provides practical knowledge about the inner workings of blockchain and the dynamics within the industry. In the worst case, however, haste can harm the prospect if care is not taken.

CJ: A lot of crypto remains fairly polarizing, with some people saying there are too many money-grabbing projects and others saying it will revolutionize the economy as we know it. Why do you think there is such a wide range of forecasts?

GM: As in any other industry, there are those who firmly believe in the potential of the novelty and application of technologies or emerging industries, and those who resist it out of fear of the unknown.

We know that there have always been rip-offs and Ponzi schemes in the financial markets, we know that since the advent of this digital age there have been several devastating hacks and a range of other criminal activities in every industry. This means that any revolutionary invention or innovation, or in this case a disruptive technology, is a double-edged sword.

On the contrary, there are those who see the glass half full and firmly believe in the potential of technology not only to make people’s lives easier, but also to combat the very crimes that the unbelievers constantly point out.

The wide range of these expectations arises from the fact that the technology has wide application and, for better or worse, the benefits of this widespread adoption also come with some shortcomings that need to be addressed sooner rather than later.

CJ: Do you think the current bear market will cause some new entrants to leave the industry for good??

GM: Absolutely. I would like to think of bear markets as a driving force for challenging participants. Bull and bear markets represent the fundamental cycle of markets, and this is nothing new. This repeating cycle has existed since markets began to function and, frankly, will never go away.

The fear in the market is quite high right now, but it is a testing ground for those who believe and make informed investment decisions at this critical time, and for those who cannot handle it and choose to give up their attention and their money to fix something else.

It is obvious that unhealthy and unnatural market growth would result in an equally abrupt and severe crash. Although the market is new and volatile and full of uncertainty, the basic behaviors and concepts apply even though the uncertainty is higher.

Take MicroStrategy for example. One of the leading institutional investors holding Bitcoin (BTC) against all expectations, Michael Saylor, the CEO, said that MicroStrategy would only liquidate its Bitcoin (BTC) holdings if Bitcoin (BTC) fell to $3,000, and that they would put up other assets as security rather than opting for a sale. This is an example of owners in the industry who are not intimidated by a temporary cycle.

CJ: On your website you state that you believe cryptocurrencies are the future of finance. I’m curious what role you see for Bitcoin in this future?

GM: My team and I fully support the claim that blockchain and cryptocurrencies will definitely redefine digital finance.

Contrary to popular belief, regulations are very important to facilitate and accelerate the global adoption of cryptocurrencies, including Bitcoin (BTC). As adoption increases, Bitcoin (BTC) will cement its role as a safe haven and store of value and take the form of a proper digital currency as institutional adoption increases and global payments are facilitated by the flagship cryptocurrency.

Bitcoin (BTC) occupies the key position in the market due to its limited supply, and due to liquidations caused by the bear market, Bitcoin (BTC) is ripe for taking right now. The time to buy is now. In a few years, many people will look back to the time when Bitcoin (BTC) traded at $20,000, just as they will look back to a time when they could have owned Bitcoin (BTC) for $2.

CJ: Has she seen the growth of the industry since its inception Crypto Academy surprised in 2016?

GM: I’m glad the industry has grown, but I’m not surprised. I’ve been in the industry long enough to see its potential for widespread applications. I’m glad the rest of the world has caught up with the industry’s believers.

On the contrary, I was expecting more growth and a better regulatory landscape to facilitate the adoption of blockchain technology and cryptocurrencies, so I am a bit disappointed in this aspect.

However, I expect that Binance and its CEO Changpeng Zhao (CZ), as a key accelerator of adoption, will prompt and motivate governments and financial institutions around the world to buckle up and get on board.

Coinjournal (CJ): You post a lot of price predictions on your website. What is the track record and how do you come to such forecasts?

Granit Mustafa (GM): We base our price predictions on overall market movement, major indices and sentiments such as the Fear and Greed Index, cryptocurrency roadmap, market adoption and expert opinions to analyze and present the most accurately expected price movement.