Which cryptocurrency will explode in 2023?
Marc Michaux and Guillaume Eyssette share their advice for investing in crypto-currencies by weighing the risks correctly on the occasion of the publication of the book “Kryptomoney, before investing”.
Le Particulier: Is it the Right Time to Release a Book on Cryptocurrencies?
Mark Michaux : This is the perfect time to release the book as there is a lot of news and buzz surrounding cryptocurrencies right now. On the one hand, there is the bankruptcy of the FTX cryptocurrency exchange platform, then the cryptocurrency market tends to fall significantly since the beginning of the year. On the other hand, there are large groups investing in cryptocurrencies, such as Google, which has invested more than one and a half billion euros in cryptocurrencies. Facebook (Meta) CEO Mark Zuckerberg has announced that he will invest 100 billion euros in cryptocurrency-backed blockchain technology and will also invest in cryptocurrencies. There are many questions because there is a lot of news. This book, written by Guillaume Eyssette, aims to answer all these questions and provide the keys to investing in cryptocurrencies.
Guillaume Eyssette: Yes, now is a good time to release a book on cryptocurrencies because it is a very cyclical topic. It is when we are at the very end of the cycle that we should be interested because this is where we do our best work and have time to learn, understand, and prepare for long-term or investment. just take advantage of the next cycle.
I have cryptocurrencies in my wallet, mostly Ethers and some Bitcoins. My approach is long-term, so the lower it goes, the more I want to buy. Of course for a long time!
Who are you ?
Marc Michaux: My name is Marc Michaux, and I have been a journalist and writer for thirty years. In particular, I was a senior reporter at Expansion, which allowed me to write articles and research economic and financial topics. I also wrote a didactic book on the functioning of financial markets called Démarrer en Bourse, published in 2019 and republished in 2021.
PRACTICAL > Go to the Individual store to consult the book “Cryptocurrencies, understand before investing”.
Guillaume Eyssette:My name is Guillaume Eyssette and I have been an investment advisor for 14 years, long before the invention of cryptocurrencies, and I have noticed that this topic is gaining momentum in the questions and expectations of investors. That’s why my co-author Marc Michaux and I decided to write this book.
Do you have cryptocurrencies in your wallet?
Marc Michaux: No, I don’t have any cryptocurrencies in my wallet. Until now, I was more of an analytical engineer, and what interested me was the technology supported by cryptocurrencies: the blockchain. How does this work? Is it wind or reality? What were the opportunities for the economic sector and society?
Guillaume Eyssette: Yes, I have cryptocurrencies in my wallet, mostly Ethers and some Bitcoins. My approach is long-term, so the lower it goes, the more I want to buy. Of course for a long time!
How authentic are cryptocurrencies to work?
Marc Michaux: Cryptos came in a specific context: during the subprime crisis. Traditional finance was chosen, and that’s when the first cryptocurrency appeared: bitcoin. Behind it was a philosophy that bypassed traditional finance and could create exchanges between people through the bitcoin blockchain. A way of implementing technology that offers an alternative where the user is at the center: the user and the actor. Blockchain is an open ledger where all transactions are visible. Any user can see the transactions of others. It is also a secure technology because every user is involved in data protection. It is a tamper resistant technology. Once the information is saved, it cannot be changed or deleted. Finally, it is a decentralized system because there is no financial intermediary. The exchange is user-to-user.
What can I do on Blockchain?
Marc Michaux: You can do a lot on Blockchain. The most obvious thing for an individual is to buy cryptocurrency. With this cryptocurrency and thanks to NFT technology, we can buy digital works. With the same technology, one can invest in the metaverse and buy a Gucci bag or a Dior dress. There are also more real effects. You can subscribe to an insurance contract thanks to blockchain technology and, in particular, a Smart contract that allows you to automatically repeat actions. For example, a flight cancellation insurance contract or a product insurance contract. At the administrative level, some administrations authenticate their documents using blockchain. After that, the documents are protected. Some African countries, such as Niger or Mali, use blockchain to authenticate property contracts. Countries like the US or Japan also use blockchain to secure and validate marriage contracts, death contracts, and cadastral data. There is still a lot to do in the future!
Is cryptocurrency risky?
Marc Michaux: Cryptocurrencies exist for a short period of time. The first cryptocurrency, bitcoin, debuted only in 2009. It is an environment rich in creativity, innovation and also bubbling. More than 1500 cryptocurrencies are created every year. There are currently 14,000 cryptocurrencies in circulation. Therefore, it is difficult to know whether the cryptocurrency will dethrone bitcoin in 5 or 10 years or disappear in 1 year. For example, in 2010, the first bitcoin transaction was made to buy a pizza. With 10,000 bitcoins, a person bought 2 pizzas worth 30 euros. If he had kept 10,000 bitcoins, he would be on top of 160 million euros right now. Who could have predicted such an explosion? It’s a very volatile environment. In the book you will find all the information that will allow you to invest in this market at its best.
Is it a serious investment?
Guillaume Eyssette: Yes, it can be a serious investment, but it depends on who is doing it and how. They are not just speculative tools. It’s not just the casino economy, even if it’s perceived as such. In reality, some cryptocurrencies have real fundamental value and lend themselves to real analysis, and you can reasonably dedicate a few percent of your assets to them in some cases.
Is it a safe haven like gold?
Guillaume Eyssette : Bitcoin proponents have put it this way, meaning that central banks can’t print bitcoin any more than they can print gold. However, gold has existed for several thousand years. Less so for bitcoins. So he makes a safe haven!
Where and how can I get it?
Guillaume Eyssette : The easiest way for beginners is to open an account on the platform. My advice is to go to the Autorité des marchés financiers website and choose a platform registered in France to save yourself a lot of frustration.
Which cryptocurrency will explode in 2023?
Guillaume Eyssette: Everyone would like to know! 2023 is a return to normalcy after a rather exceptional 2022. Back to basics: we invest for the long term and gradually enter the biggest cryptocurrencies, namely Ether and Bitcoin.