Franklin Templeton CEO, known for his support for Bitcoin, stated that TradFi still underestimates and ignores Bitcoin.
Speaking at the Jackson Hole Symposium in Wyoming, Franklin Templeton CEO Jenny Johnson said that traditional financial institutions (TradFi) are underestimating the massive scale of Bitcoin.
According to CoinDesk, Johnson said he spends 30% of his daily work researching innovative technologies.
The famous CEO also added that two rising trends he does not want to miss are cryptocurrencies and artificial intelligence (AI).
“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.
Pointing out that traditional financial institutions have no idea about the size and volume of Bitcoin, Johnson stated that $36.6 trillion worth of transactions were made on the Bitcoin blockchain last year.
Comparing Visa Mastercard to Bitcoin transactions, the famous CEO pointed out that global payment networks Mastercard and Visa carried out transactions of $9 trillion and $14.8 trillion respectively, and said, “Bitcoin’s transaction volume doubled the total transaction volume of Mastercard and Visa in 2023.”
Franklin Templeton already has spot Bitcoin and Ethereum ETFs.
*This is not investment advice.
