OKX President Hong Fang on Bitcoin’s Potential
Hong Fang, president of OKX, a leading Web3 technology company and the world’s second-largest cryptocurrency exchange by trading volume, shares her expert insights into Bitcoin’s unprecedented surge and the broader impact on the crypto industry.
Fong’s journey to becoming a towering figure in the field is remarkable. Before joining the Web3 industry in 2019, she worked as an investment banker at Goldman Sachs for eight years before moving into growth equity investing. She first discovered Bitcoin in 2016, an experience that fueled her passion for promoting a decentralized financial system built on trustlessness and inclusivity.
Bitcoin Boom: Drivers Behind the Surge
Bitcoin’s recent rise to $99,000 marked a major milestone, driven by renewed optimism about the U.S. political and regulatory environment. Fang attributes the surge to a combination of macroeconomic factors and changing regulatory expectations. She explained that political support plays an important role in shaping investor confidence, which in turn drives greater adoption and investment.
“Markets are reacting to the Trump administration’s expected pro-crypto stance. This includes potential tax reform, economic policy and clearer cryptocurrency regulation,” she said.
Fang noted that current government market optimism about a potentially more supportive regulatory environment reinforces Bitcoin’s position as a hedge against uncertainty, which may further encourage institutional participation.
One of the most notable trends in the crypto industry is the growing interest from institutional investors. According to Fang, the interest has been consistent, albeit under the radar. Although institutions’ presence in the market may not always be visible, their sophisticated investment strategies involve quietly taking positions.
“Institutional investors, including major players such as BlackRock, are already buying Bitcoin directly or through ETFs. According to research from OKX, 70% of institutional investors plan to allocate funds to Bitcoin within the next three years.” She noted .
Fang sees regulatory clarity as a potential catalyst for greater institutional involvement, particularly in corporate finance and state reserves. She said this would unlock significant capital flows from “traditional” players.
However, regulation remains a double-edged sword for the crypto industry. Lack of clarity creates uncertainty, inhibiting growth and innovation. Even with a clearer framework, excessive oversight could stifle the principles of decentralization that draw so many people into the field. Fang stressed the importance of striking the right balance.
“We have been working with regulators around the world, and many jurisdictions have taken a positive stance on cryptocurrencies. However, the United States still has a lot of work to do,” she noted.
She acknowledged that achieving consistent regulation across regions is challenging due to differences in economic and cultural backgrounds. While basic principles such as consumer protection and anti-money laundering may be consistent, regional differences will persist.
The strategic reserve debate and its global implications
The concept of Bitcoin as a strategic reserve currency is booming, with several U.S. states already recognizing it at the state level. Fang believes this development could be a stepping stone for federal adoption.
She believes that the growing discussion about making Bitcoin a national reserve currency is not just speculation; It represents a tangible shift in the government’s view of digital assets.
“There is increasing talk about Bitcoin becoming a national reserve currency. If the United States takes the lead, it could trigger a domino effect around the world,” she predicted.
The impact of this move will be far-reaching, reshaping global monetary policy and strengthening Bitcoin’s role in international finance. smaller countries including El Salvadorhave incorporated Bitcoin into their reserve strategy.
If a global power like the United States included Bitcoin in its reserves, it would not only further legitimize the asset but also accelerate its acceptance around the world.
Fang noted that the political landscape has tilted toward this possibility. Pro-Bitcoin senators and congressmen have gained influence in the US legislative system, e.g. Senator Cynthia Loomis Publicly support Bitcoin as a reserve asset.
She added: “These advocates are driving discussions to build on the foundation laid at the state level and bring Bitcoin to the forefront of the Fed’s strategy.”
Volatility Problem: A Feature, Not a Bug
Bitcoin’s volatility can often be intimidating to new investors, but Fang stressed the importance of looking at the issue in a broader context. She encouraged investors to focus on the long term, noting that despite market volatility, Bitcoin has consistently shown an upward trend over four-year cycles.
Fang emphasized that patience and resilience are keys to successfully navigating the cryptocurrency market. For those who want to enter the market, she offers practical advice: invest carefully, be prepared for volatility, keep a long-term view, and weather the highs and lows effectively.
“Volatility is part of the Bitcoin story. It’s the price you pay for an asset that outperforms every other class over longer time horizons. Only invest what you can afford to lose and always leave room for error. In such a dynamic and evolving sector, responsible investing is key,” she advises.
While Bitcoin remains at the center of the cryptocurrency conversation, Fang talked about the knock-on effects of its performance on altcoins. She did not make a specific price prediction but stressed the importance of due diligence and responsible investing.
“Historically, Bitcoin leads the rally, followed by altcoins. This cycle is likely to continue. Each investor must do their own research and operate within their own risk tolerance,” she suggestion.
While the prospects for cryptocurrencies may be positive, their inherent risks should not be ignored. Crypto markets are known for their volatility, affected by macroeconomic trends, regulatory developments and ongoing technological advancements. To navigate this dynamic industry, investors need to stay informed and adapt to changing circumstances.
At the same time, innovation will play a key role in driving the industry’s long-term growth. Developing practical tools and applications that solve real-world challenges is critical to sustaining cryptocurrency’s momentum and solidifying its place in the global economy.
Fang concluded: “New applications that solve real-world challenges will lay the foundation for long-term growth in the cryptocurrency space.”
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