Who would have ever thought that not having bitcoins could be career suicide? Poorly done portfolios, under qualification, poor craft; these are some of the few career suicides know. However, in an interview on CNBC, Coin Share chair and former JP Morgan commodity trader Danny Masters said, with the financial market rapidly evolving and accommodating cryptocurrency, it would be wise to not only invest in bitcoin but have knowledge and exposure to bitcoin and how it works.
To emphasize the importance of incorporating bitcoin into your portfolio, In an interview on power lunch, the head of the digital asset management firm told the people that though in the past purchasing bitcoins as an asset manager was risky, currently the “perceived career risk for having bitcoin in your institutional portfolio as a ‘portfolio manager’ is fast migrating into a career risk, for not having bitcoin in your portfolio, and that’s a stunning development.”
Previously, it was perceived that bitcoin was a particularly volatile asset. However, Danny Masters believes that “the volatility of other asset classes has proved to be a lot more volatile than people expected.”
Siting sites like PayPal, Square, and Microstrategy, Danny Masters further said that bitcoin has finally evolved from the negativity it encountered from many conventional investors as they were now embracing it and buying into it. However, the question is not if organizations will have access to a digital asset, but the date and price they will have the asset.
He, Danny Masters, believes that these companies “are outperforming the market because they are going public with their exposure to bitcoin.” And for that reason, the “sentiment is electric, there is no doubt about that.”
As of October 2020, Bitcoin remained irrepressible and, therefore, maintained a strong position on the market. Prices did not waiver with news of its charges being compared to significant founders of BITMEX who anticipated fluctuation in bitcoin prices. Masters is quoted saying that,” having been around crypto during MT Gox, the China ban, Bitinex Hack. Trump comments, and many other market smashing stories that punctuate bitcoins history, I was struck by the lack of negative price movement, particularly around BitMEX”.
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