During the WebSummer Rio conference in Brazil, Animoca Brands founder Yat Siu said he is absolutely confident that Bitcoin will one day be worth more than $1 million.

Yat Siu made his statement during an event called “Bitcoin's Revenge: Is Web3 Coming Back.” At the same time, according to him, the adoption of Bitcoin by institutional investors is not as important as the development of financial services based on the blockchain and games on Web3.

“I believe Bitcoin can reach $1 million or more. But this will not be because Bitcoin has become a means of accumulating wealth, but because it will be one of the most status symbols of the digital economy of the future. Look at the Philippines, some Latin American countries – millions of people do not have access to banks, university or even school education. But now they have cryptocurrency wallets and therefore are included in the financial system, they become educated in this, they learn through games,” noted Yat Siu.

Ripple President Monica Long supported the founder of Animoca Brands and emphasized that it is most important for the entire industry to focus on the real use and benefits of cryptocurrencies. According to her, “this is what will create long-term value and liquidity of all assets in the cryptosphere.”

Previously, Skybridge Capital CEO Anthony Scaramucci said that in the next bull cycle the Bitcoin rate will reach $400,000.