UTrust’s CIO On What Will Drive Bitcoin Past $20,000 Once Again

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Filipe Castro is a long-time Bitcoin fanatic that decided to run with a dream, founding leading crypto startup UTRUST alongside a partner. At Token2049, NewsBTC got a chance to sit down with Filipe to discuss a number of subjects, including his thoughts on adoption, a possible bottom in the value of cryptocurrencies, and how his firm is moving towards becoming the PayPal of this industry.There’s A Bitcoin Downturn, But How Are Fundamentals?NewsBTC: All right. So, NewsBTC editor Joseph Young argues that by many measures, this crypto winter has exceeded expectations. You have Fidelity’s Bitcoin custody coming out, Starbucks potentially looking into accepting BTC, and all the infrastructure plays that are looking to bolster public awareness. Do you think that this bear market is better than the last?Filipe: A lot more is being developed right now than in any of the previous bear markets, that’s for sure. Especially in terms of infrastructure projects towards mainstream adoption. We’re much further ahead in this winter than the last. Unfortunately, that has not been reflected in the price. This being despite many companies including ourselves actively working on infrastructures. But this technology benefits adoption in the long-term. And in the short-term, it impacts the speed and reliability of networks. Then again, this hasn’t been translated to price action. This part is very puzzling to me. From an outside perspective, I look at this market and say that there’s never been a better opportunity to jump in. You might say, ‘maybe we haven’t reached the bottom’. I don’t know. But, from a macro perspective, I would say yes, we are at that pivotal moment. Or at least we are near that moment.

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