Chief Strategy Officer of CoinShares: Portfolio managers who do not invest in Bitcoin may face professional risks
Danny Masters, chief strategy officer of CoinShares and a former commodity trader at JPMorgan Chase, told CNBC that the financial landscape has changed, and for portfolio managers, not investing in Bitcoin may be more risky than investing in Bitcoin.
The head of this digital asset management company mentioned on the CNBC program “Power Lunch” that in the past, it was considered risky for asset managers working in institutions to invest in Bitcoin. But he claimed, “As a portfolio manager, holding Bitcoin in his institutional investment portfolio is rapidly transforming into professional risks without Bitcoin in the portfolio. This is a very surprising change.”
CNBC host Kelly Evans summarized his statement:
“For portfolio managers, if they hold some bitcoin, they will not be fired, but if they don’t have bitcoin, they may be fired.”
Masters believes that Bitcoin is considered a highly volatile asset, because “it turns out that other asset classes are far more volatile than people expected.”
Masters stated that Bitcoin has got rid of its previous negative image among mainstream investors. The question now is no longer whether companies will adopt this digital asset, but when and how much. He mentioned Square, Microstrategy and Paypal. Investment in Bitcoin.
These companies “are outperforming the market because they are buying Bitcoin publicly,” and the result is:
“No doubt caused a sensation.”
Masters stated in October that although the founder of the major derivatives exchange BitMEX was accused of causing the price of Bitcoin to fall, the rebound trend of Bitcoin is getting stronger and stronger. As its price is not affected, Bitcoin is in a very favorable position. Status.
“In the case of the bankruptcy of the MtGox exchange, the hacking of Bitfinex, Trump’s criticism of cryptocurrencies, and many other events that caused market volatility, Bitcoin has performed outstandingly. I am shocked that Bitcoin prices rarely fall, especially in During BitMEX’s charges.”
The Fear and Greed Index currently reads 92 (total reading is 100), indicating that the market is in a state of extreme greed. Since the index hit 95 points in June 2019, there has never been such a level.
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