Mitihoon – With global attention on the ongoing developments, these leaders highlighted regulatory changes, strategic opportunities, and the growing influence of institutional players as key factors driving the industry forward.
Khun Nares Laopannarai, President of the Thai Digital Asset Association: Greater regulatory clarity and institutional Involvement, 2024 will bring clearer regulations globally, and Thailand has the potential to become a digital asset hub if strategic policies are implemented.
Khun Nares emphasized that 2024 will be remembered as the year in which regulatory clarity and institutional involvement reached new heights. He pointed out that many key markets, such as Hong Kong, Singapore, Dubai, and Europe, are leading the way in defining clear regulations, with the United States expected to follow.
“In 2024, we’re seeing global regulations becoming clearer, except in the U.S., where progress is slower,” Nares stated. “Thailand is starting to shift towards a more supportive stance, moving beyond just regulatory control. With the development of utility tokens, we can better promote the digital economy, along with new opportunities like ESG and soft power token-based fundraising.”
He also noted that for Thailand to compete regionally, the country must strengthen its position as a digital asset hub by finding a balance between traditional finance and blockchain technology.
Khun Piriya Sambandaraksa, a Bitcoin expert: Bitcoin’s Role as a Stable Digital Asset
2024 reaffirms Bitcoin’s stability and leadership as the premier digital asset in the market.
Khun Piriya underscored the significance of 2024 for Bitcoin, as the cryptocurrency celebrates 15 years of resilience. While many other digital assets remain volatile, Bitcoin’s stability has only been further solidified.
“This year marks 15 years of Bitcoin being a stable and trusted digital currency,” Piriya said. “While 2024 may not see the highest prices for Bitcoin, it will be the year that reinforces its role as a leading digital financial asset in a volatile world.”
Bitcoin’s consistency amidst fluctuating markets has reinforced its position as a long-term store of value.
Assoc. Prof. Dr. Udomsak Rakwongwan, Co-founder of FWX: Strategic Growth through Halving and Liquidity, Strategic growth in 2024 will be driven by Bitcoin halving, institutional involvement, and increasing liquidity, but investors need to be mindful of timing.
Assoc. Prof. Dr. Udomsak discussed the market dynamics driving growth in 2024, including the upcoming Bitcoin halving and improved liquidity across global markets. He noted that large players, or “whales,” are accumulating assets, signaling confidence in the market’s future.
“2024 is a year of strategic growth for Bitcoin and other digital assets,” Dr. Udomsak remarked. “The Bitcoin halving event will push prices upward, and increased global liquidity means more capital flowing into riskier assets like cryptocurrency. Large institutions entering the market will also play a key role in laying a stable foundation for future growth.”
He also warned that while 2024 offers great potential, the best investment opportunities may have already begun in 2023, making it crucial for investors to time their moves carefully.
Khun Nirun Fuwattananukul, CEO, Binance TH by Gulf Binance: Crypto Moving Toward Mainstream Adoption, 2024 will be remembered as the year when cryptocurrency began its transition to mainstream adoption, with growing institutional participation and global interest.
Khun Nirun sees 2024 as a defining year for the cryptocurrency sector, with major developments pushing the market toward mainstream acceptance. He highlighted key regulatory advancements and institutional movements across global markets that will set the tone for the future.
“2024 is a pivotal year for crypto because this is the year where it starts to go mainstream,” said Khun Nirun. “We’ve already seen Bitcoin ETFs in the U.S. and Hong Kong, Europe is implementing the MICA regulatory framework, and Russia is legalizing Bitcoin mining. Smaller countries like El Salvador and Bhutan are also accumulating Bitcoin, which reflects growing global confidence in the technology.”
Khun Nirun emphasized the importance of viewing crypto as a new and transformative technology, drawing parallels to the skepticism that surrounded the internet’s early days.
“People are often skeptical of new technologies,” he explained. “Just like how we once questioned the internet or smartphones, many still doubt crypto. But as more people begin to see the benefits, such as those in countries facing currency instability like Venezuela and Turkey, the skepticism will fade, and adoption will accelerate.”
Dr. Korn Poonsirivong, Chief Strategy Officer at Binance TH by Gulf Binance: The Integration of Traditional Finance and Crypto, 2024 is a pivotal year for the integration of traditional finance and crypto, driven by regulatory advancements and institutional adoption.
Dr. Korn highlighted the growing convergence between traditional finance and the crypto world in 2024. He pointed to the launch of Bitcoin and Ethereum ETFs and the adoption of cryptocurrencies by governments as key milestones that will push digital assets into the mainstream.
“In 2024, we are seeing crypto transition into the mainstream, with government acceptance and new ETFs for Bitcoin and Ethereum,” Dr. Korn explained. “Countries like Hong Kong, Singapore, and the U.S. are leading regulatory developments, creating a positive environment for crypto adoption. The merging of traditional finance with the crypto world is a clear sign of the growing acceptance and the practical use of digital assets in the global economy.”
Dr. Korn also noted the increasing involvement of smaller countries, such as El Salvador and Bhutan, in accumulating Bitcoin, which indicates global momentum.
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