Summary List Placement

The market value of cryptocurrencies has more than tripled since 2017 amid a surge of interest both from institutional and individual investors, cemented by the direct listing of Coinbase on April 14.

Bitcoin has been leading the charge for three main reasons, according to Ajit Tripathi, head of institutional business at decentralized-finance platform Aave. He provided an external voice for a new Citi report this month entitled Future of Money.

First, there’s trust. Bitcoin has not been hacked in its 12 years of existene, Tripathi said.

“Anyone who touches crypto looks at bitcoin first,” he said. “Bitcoin was the first one, and bitcoin platforms have gone through a lot of challenges/accidents and survived.”

Next, Tripathi cites regulatory clarity. The Commodity Futures Trading Commission has classified bitcoin as a commodity, which the Securities and Exchange Commission has, thus far, not challenged.

Third, there is brand value. Tripathi, who also co-founded the UK Blockchain practice…

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