Last year, River Financial CEO Alexander Leishman and River Intelligence editor Natalie Mutch discussed the major Bitcoin events of the year. They sat down once again to discuss what is in store for Bitcoin and River Financial in 2022 and revisit the previous discussion and the accuracy of their outlook.
N: "It's great to be chatting with you again Alex, especially after such an exciting year! Let's begin by briefly recounting 2021: 2021 was a standout year for Bitcoin, from novel price action and product offerings to major regulatory shifts and institutional investments. Were you surprised by the market activity of this last year? Why or why not?"
A: "The unsurprising aspect of the 2021 Bitcoin market behavior was the strong price appreciation. As I predicted last year, Bitcoin has increasingly strong tailwinds and significantly growing institutional demand. I also predicted that this bull market would be slower and more sustainable, which seems to be the case. We have seen healthy pullbacks and strong accumulation at lower price levels."
N: "In late 2020, Bitcoin’s price movements were quite different from the activity in late 2021. How do you see the current price action compared to the price movement last winter?"
A: "The winter 2020-2021 price run-up was a quantum leap for Bitcoin, elevating the asset to a new level and truly bringing it into the mainstream dialogue. We are not seeing the same seismic shift happening again this winter, but who knows if we will see it later in 2022!"
N: "How do you think the broader macroeconomic events of 2021 did or did not impact Bitcoin?"
A: "The big narrative shift in 2021 was the adoption of Bitcoin as the official currency of a nation-state, El Salvador. That shift in the Overton Window opened the floodgates for countries worldwide to operate on a Bitcoin standard."
N: "Reflecting on the last year, as CEO, how well do you think you prepared River Financial for growth in the market?"
A: "I am most proud of how we leveled up as a team in the last year to serve the drastic increase in demand. Our company grew from 8 to 45 people in 2021, and we built a rockstar management team. I’m 100% confident that this team is prepared to handle whatever comes our way. That said, for me, 2021 was defined by my transformation from the founder of a small startup to the CEO of a 45-person company. I have had to learn a lot very quickly, and there is a long list of skills that I am still working to level up. Luckily, I have an insanely talented team to help cover my blind spots."
N: "What River Financial 2021 product, feature, or announcement are you most proud of?"
A: "Hands-down I am most excited about the launch of River Mining. We are going to change the landscape of the retail mining industry completely, and I can’t wait to share more of what we’re building next year."
N: "Let's transition to looking towards 2022: Throughout Bitcoin’s bull run in 2021, there was a wide variety of opinions on how high this price growth would go, if it would or could continue, and what the correction would be. What is your view on the diverse sentiment in the market, and do you think it will get more or less diverse in 2022?"
A: "As always, my long-term view is that the Bitcoin price will significantly appreciate over the coming years. The path it takes is always a surprise, but I would not be shocked to see a slow start to the year with more activity coming in the Spring. We saw a strong alt-season in the fall, and I think we may see a refocus towards Bitcoin in 2022."
N: "2021 brought a lot of questions, with few answers, regarding regulatory support of Bitcoin. You also authored several commentary pieces on Bitcoin regulation this year. Can you summarize how you view the regulatory environment in its current state and what you would like to see happen in 2022 regarding Bitcoin regulation?"
A: "I think the regulatory environment is generally trending in a positive direction. Bitcoin and cryptocurrencies are now so popular in the United States that it is no longer politically viable to ban them outright. That said, I do think that the misguided ESG anti-Bitcoin narrative will require constant energy (no pun intended) to continuously debunk and invalidate. People like Nic Carter are doing an incredible job helping on this front. I also think that inflation will continue to dominate the narrative in 2022 as the US faces the consequences of the Covid spending spree. Inflation will continually strengthen Bitcoin’s viability as a store of value and alternative to fiat currency, which will lead to interesting political conversations and debates down the road."
N: "What do you think will drive growth and demand for Bitcoin the most in 2022?"
A: "The last two years saw Bitcoin shift from a relatively fringe investment to a widely acknowledged store of value. 2022 will see this trend continue with consistently growing retail and institutional adoption. I think 2022 will also be the year that we will look back on and say that the Lightning Network became a standard way to transact with Bitcoin."
N: "What River Financial product, feature, or announcement are you most excited about in 2022?"
A: "I’m most excited about River Mining, which we announced in 2021, but only shared the tip of the iceberg. There are many new product features, investment opportunities, and experiences in the works. With River Mining, we are building the world’s best retail Bitcoin mining product. We have so much in the pipeline to be launched in the first half of 2022 that our clients are going to love."
N: "If you could speak directly to River clients and supporters, what would you like to say to them?"
A: "Thank you from the bottom of my heart. River would not exist without our clients, and we work hard every day to provide the level of service you deserve. We look forward to serving you in the years to come!"
The future of finance is Bitcoin, and we are dedicated to continually elevating the Bitcoin financial services experience on River.com and in the River iOS app. You can download the iOS app today here. For more information, please visit our Knowledge Base or contact our Client Services team at firstname.lastname@example.org or (888)-801-2586.