No Way to Explore Cryptocurrency and Digital Assets without Risk until NowAugust 27, 2019
Winklevoss Twins, famed Bitcoin, and cryptocurrency advocates have now stated, “Unlike the internet, which you couldn’t buy a piece of, you can buy a piece of this new internet of money.”
According to the twins, the cryptocurrency market continues to be retail-driven. A lot of them have been doing well, and while all this is happening according to them, Wall Street has been asleep at the wheel.
The Epic bull run of 2017 was because it was widely thought that Wall Street and institutional money would flow into the asset type. However, this investment failed to materialize. In the past year, the price of the Bitcoin went down to $3,000.
The twins stated, “We had to invest because we were afraid of missing out, we couldn’t miss out on this future.”
The twins further opine that the consortium of 28 members for Libra will swell to 100 before the launch of Libra next year.
Marcus Swanepoel, CEO of cryptocurrency exchange Luno stated, “Roughly about 90% I would put into the category of investments slash speculations, so it could be people who have a long term view on it, people who like to trade it and about 10% would be transactions.” He further opined that when it comes to managing investment portfolios, it makes very little sense about putting just a little money into cryptocurrency.” He reasoned his opinion stating that while the risks are high, the potential returns are astronomical.
Bitcoin is frequently mentioned alongside the haven asset gold, and therefore increasing numbers of investors are beginning to consider it as a hedge. The signs of monetary easing are not showing any signs of stopping.
Anthony Pompliano earlier this month stated, “We are now at a point where I would argue that it is irresponsible for an investor to have 0% exposure to Bitcoin in their portfolio.”
The price of the Bitcoin has climbed some 200% since January, and this is because of giant technology companies making it to the cryptocurrency space with winning use cases. The price of the Bitcoin now is now ranging near $10,000 because several investors fear that global regulators would gang upon Facebook’s plan.
Alex Safonov, co-founder and CEO of Button, stated, “Cryptos’ biggest obstacle is mass adoption and what we’ve created will help people comfortable with trading cryptocurrency without using real money.” He further added, “With all the fanfare surrounding Facebook’s Libra digital currency, there hasn’t been a way to explore digital assets without risk, until now.”