One of the leading investment management firms in the world has endorsed digital tokens and urged major institutions to put money on crypto as it represents the future. The firm is Cambridge Associates a Boston-based consultancy that only advices big institutions that manage over $300 billion in clients assets.
The company is quoted by Bloomberg saying:
“Despite the challenges, we believe that it is worthwhile for investors to begin exploring this area today with an eye toward the long term. Though these investments entail a high degree of risk, some may very well upend the digital world.”
It’s a remarkable statement especially considering the cryptocurrency space is dominated by extreme optimism and pessimism in equal measure. The investment management firm specializes in pensions and endowments. By asking institutions to put money on crypto, the company must genuinely believe that crypto has a future.
So, the firm advised institutions that may be interested in the crypto space to consider getting in on various aspects the crypto market has to offer from trading tokens to investing venture capital.
The crypto industry may have suffered its worst decline over the past year; however, the investment firm believes that we are still in the developing stages of what will be a formidable industry.
“The dramatic declines that swept across the crypto space raised questions about the future of these assets and the blockchain technology that underpins them. Yet, in looking across the investment landscape, we see an industry that is developing, not faltering.”
It seems the assessment from Cambridge Associates is on point as a report released last week by Grayscale indicated that there was an influx of institutional money in the cryptocurrency space in the past year especially in the last quarter of 2018.
Do you agree with Cambridge Associates that institutions should put money on crypto? Share your thoughts in the comment section below.