Danny Masters, head of CoinShares and former commodity at JP Morgan, told CNBC that the economic landscape has changed so much that ditching Bitcoin could be a riskier move for portfolio managers than investing in it.

In an interview with Power Lunch, the head of a digital asset management company mentioned the fact that it was previously too risky for asset managers working in organizations to invest in bitcoin. But he claimed that “the perceived professional risk of having bitcoins in your company’s wallet as a portfolio manager quickly translates to the professional risk of not having bitcoins in your wallet, which is a truly amazing achievement.”

CNBC host Kelly Evans summed up the statement:

“It’s very clear that you do not get fired anymore if you have bitcoins, but you can get fired if you do not have them.”
Masters believes that the perception of Bitcoin as a highly volatile asset has been undermined because “the volatility of other asset classes is more volatile than people expected.”

He said that Bitcoin has moved away from previous negative stigma among large investors, and that the question is no longer whether companies will be available for digital assets, but when and to what extent, with reference to investments from Square, Microstrategy and Paypal.

These companies “surpass the market because they publicly list their bitcoins,” and as a result:

“Emotions are electrified, no doubt about it.”
In October, the Masters stated that Bitcoin is becoming more resilient and in a very strong position as the price refuses to fluctuate despite the fact that a fee is paid to major derivatives founders to switch BitMEX, which would have driven prices earlier:

“Since I was involved in cryptocurrencies under MtGox, the Chinese ban, the Bitfinex hack, Trump’s comments and many other amazing market stories throughout Bitcoin’s history, I was amazed at the lack of negative price action, especially around BitMEX.”
The fear and greed index is 92 out of 100, which indicates a feeling of extreme greed. We have not seen these levels since June 2019, when the index reached 95.

Source: CoinTelegraph

LEAVE A REPLY