Bitcoin News

Bitcoin value now below expectations “but cryptocurrencies are going no where”

What needs to happen before institutional Investors start to take Cryptocurrencies seriously

According to the founder and partner at Morgan Creek Digital Assets, Anthony Pompliano, an investor in cryptocurrencies will let the firm focus on providing access to digital assets. This will be geared towards assets for institutions and financial offices as well. Pompliano, a former product manager at Facebook, mentioned that there will be more investors coming into space in order to educate the masses on the power of cryptocurrencies with the Blockchain technology. The fundamentals behind Blockchain-based crypto assets is still a little obscure to most people, as it’s power and resilience is still being untaped making Bitcoin value now pegged solely on price.

Pompliano thinks investors and normal individuals should become much more familiar with the technology in order to see the opportunities that lay ahead to come, in the crypto sector. Some people need this consideration before they feel comfortable to start investing or using cryptocurrencies and digital tokens. According to Pompliano, there needs to be qualified cryptocurrency custodians that can grant approval to the entrance of well-known firms like the State Street. This financial service and the bank holding company is worth over $2.7 trillion dollars in assets.

The time factor of the growth of crypto Assets

Coming from an economics and sociology graduate at the Bucknell University, the educational process is extremely important as it will allow investors to make better and more understandable decisions. Cryptocurrencies and crypto assets are not going anywhere though Bitcoin value now is what many expected. He thinks this technology is here since the creation of bitcoin and has changed the way the global financial system works. It has also brought new business opportunities and has opened to new markets opportunities for individuals around the world.

Pompliano was asked if there were any correlation between traditional assets and the crypto Market, he answered that:

“It appears that crypto is uncorrelated for now. That could change over time but[it’s] hard to predict. Bitcoin and other crypto assets have only existed during a long bull market so it will be interesting to see how they perform during a bear market or recession.” 

Bitcoin is still the King of cryptocurrencies in the market, as recently reported by Cory Johnson, Bloomberg’s editor-at-large and is the chief strategist at Ripple Labs. Has claimed that XRP, a digital currency that was developed by the company Ripple, is now being used more than Bitcoin, however.

Anthony was also asked whether investors are confident in XRP increasing in value as so many people seem to be interested in XRP than Bitcoin, He stated that:

“Completely disagree. Bitcoin is the reigning king of cryptocurrencies and I don’t think that will change any time soon.”

What do you think about Bitcoin value now declining to new lows, please feel free to leave your comments down below.

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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