Cobo, co-founder and CEO of Cobo, a provider of digital asset custody solutions, and Shen Yu, co-founder of F2Pool, the world’s largest mining pool, shared their views on the upcoming Bitcoin halving, the future landscape of mining companies, their investment mindset, and advice for readers.
In the interview conducted during the Web3 Carnival in Hong Kong, Cobo CEO and F2Pool co-founder Shen Yu discussed the understanding of industry cycles and how the Bitcoin halving will impact the mining industry. He also shared his thoughts on the current state of the market and the potential for altcoins to surge in value after the halving.
Shen Yu pointed out that there are three main types of mining companies in the Bitcoin mining industry, each with its own characteristics and strategies to respond to market challenges. He also addressed the potential impact of the halving on altcoin prices and emphasized the importance of continuously observing market developments and adjusting asset allocation accordingly.
The interview also touched on the competition between AI chips and mining chips, and how the demand for AI chips may affect the future of the Bitcoin mining industry. Shen Yu expressed his surprise at the development of the Bitcoin ecosystem and the diverse range of applications being built on top of Bitcoin.
Regarding the challenges faced by the Bitcoin ecosystem, Shen Yu acknowledged that the industry is still in its early stages but is moving in a positive direction. He also shared his views on the criticism of Bitcoin’s network spam attack and its impact on the market.
As traditional banks and custodians enter the cryptocurrency space, Cobo, which has been focused on wallet custody since 2017, discussed the implications of this trend and whether it contradicts the decentralized nature of cryptocurrencies.
Shen Yu shared his investment strategy, which includes asset rebalancing and staying informed about market trends. He also highlighted the differences in perception and reaction to market changes among different generations of investors, particularly the younger generation who are more digitally savvy.
In conclusion, Shen Yu discussed the potential impact of AI on the cryptocurrency industry and wallet custody, as well as his thoughts on the concept of the metaverse and its relationship to Web3.
Overall, the interview provided insights into the upcoming Bitcoin halving, the changing landscape of the mining industry, and Shen Yu’s investment mindset and advice for readers.