Franklin Templeton CEO: TradFi Underestimates Bitcoin

by Giorgi Kostiuk

2 years ago

Made with AI

Speech at Jackson Hole Symposium
Comparison with Traditional Payment Systems
Current Investments by Franklin Templeton

Franklin Templeton CEO Jenny Johnson expressed concern over the underestimation of Bitcoin by traditional financial institutions.

Speech at Jackson Hole Symposium

Speaking at the Jackson Hole Symposium in Wyoming, Franklin Templeton CEO Jenny Johnson stated that traditional financial institutions are underestimating the massive scale of Bitcoin. Johnson mentioned that she spends 30% of her daily work researching innovative technologies.

We have an entire industry that runs almost parallel to traditional finance and ignores the huge cryptocurrency ecosystem. What's crazy to me and what I can't understand is that the traditional financial sector has no idea about the amount and volume of money circulating in the Bitcoin and crypto space. Despite Bitcoin's size, TradFi still ignores BTC.Jenny Johnson

Comparison with Traditional Payment Systems

Johnson pointed out that traditional financial institutions have no idea about the size and volume of Bitcoin. According to her, $36.6 trillion worth of transactions were made on the Bitcoin blockchain last year. Comparing Visa and Mastercard to Bitcoin transactions, the famous CEO noted that global payment networks Mastercard and Visa carried out transactions of $9 trillion and $14.8 trillion respectively. She highlighted, 'Bitcoin's transaction volume doubled the total transaction volume of Mastercard and Visa in 2023.'

Current Investments by Franklin Templeton

Franklin Templeton already has spot Bitcoin and Ethereum ETFs.

The Franklin Templeton CEO emphasizes the significance of cryptocurrencies and artificial intelligence, noting that traditional financial institutions fail to recognize the scale of cryptocurrency transactions.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Dormant Bitcoin Wallets Come to Life

Six dormant Bitcoin wallets have moved a total of 55,359 BTC, worth approximately $40.15 million, between August 16 and August 26.

Satoshi Nakamura22 minutes ago

SEC Proposes New Rules for Crypto Custody Regulations

The SEC has proposed new rules to modernize crypto custody regulations for investment advisers and companies.

Jesper Sørensenan hour ago

US Law Blocks Federal Reserve from Issuing Digital Currency Until 2030

US Congress passed a law blocking the Federal Reserve from issuing a digital currency until 2030.

Rajesh Kumar5 hours ago

ECB Executive Addresses Privacy Concerns of Digital Euro

Piero Cipollone from the European Central Bank addresses privacy concerns regarding the digital euro, emphasizing user privacy and transaction confidentiality.

Lucas Weissmann6 hours ago

Bitcoin Futures Traders Abandon Crypto for Stablecoin Margin

Bitcoin futures traders have largely abandoned using Bitcoin as collateral for their positions, opting for stablecoin-backed positions to avoid risks associated with price drops.