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Jamie Coutts, Bloomberg Intelligence’s cryptocurrency market analyst, argues that “falsehood” and “fear of the unknown” have changed the history of cryptocurrencies. Holding back traditional portfolio managers From investing in cryptocurrencies.
Speaking to Cointelegraph at the Australian Crypto Conference over the weekend, Coutts argued that the falsehood persists that blockchains have no intrinsic value.
These asset managers own stocks of companies such as Amazon and Facebook. […] In the first few years, these companies were not profitable,” Coutts explained, adding that Facebook was “not profitable” in the early days. […] or deemed to have intrinsic value. “
But they could see the value of the network here, that the network was growing, and that the value of the asset comes from the number of people using the product.
Coutts believes: cash generating assets, Including EthereumIt certainly has intrinsic value.
However, Bloomberg analysts said they do not fully understand why they are hesitant to adopt cryptocurrencies, ruling out the lack of regulation as a reason.
Regulation is not one of them. Again, regulation is always a concern, but BTC is regulated.
Coutts said there was no real regulatory risk at the moment when cryptocurrencies were regulated and became taxable that would have to be disclosed to the tax authorities in the jurisdiction in which you are located. .
Instead, Coutts said it could be just a fear of the unknown, suggesting that asset managers ignoring crypto or choosing not to educate themselves about cryptocurrencies presents an opportunity. He added that he missed it.
Coutts suggests that those hesitant to invest in cryptocurrencies should look beyond market volatility and focus on what cryptocurrencies really bring.
“The best we can do is understand the global trends that are happening [] Corruption and technological innovation where cryptography intersects. This provides the wind behind the sails of cryptocurrencies as an asset class to which some allocation should be considered. “
Last month, Swiss wealth management group Picket Group advised Opposes crypto investments in the midst of recent industry turmoil.
Pickett Group CEO T Fong has admitted that cryptocurrencies are an asset class that cannot be ignored but believes there is no place for private bankers and private bank portfolios. ing.
Related: Will Ethereum Merge offer a new destination for institutional investors?
Some have suggested that institutional investors are interested in crypto-related investments despite market conditions.
Apollo Capital Chief Investment Officer Henrik Anderson told Cointelegraph on Sept. 14: Institutional interest is slow to gain momentummany are waiting on the sidelines, timing the market.
Anderson is optimistic about the future given that he “already sees interest in digital assets from some of the major banks here in Australia”… specifically. “
