Thursday, February 25, 2021

Strategic Analyst: The best time to invest in Bitcoin was yesterday

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As Bitcoin’s bullish journey continues in 2021, one analyst says regulatory concerns surrounding the cryptocurrency will likely not derail its momentum.

“The regulatory problems have been around for a long time, but we have dispersed them for a long time,” said Melteam Demirers, chief strategic officer at CoinShare, a digital asset investor. And at this point, we think the Bitcoin journey is not about what if? But .. when? ”

Demirors added, in an interview with the “CNN.” that. B. “We definitely believe, as you know, that the best time to invest in Bitcoin was yesterday, and the second best time is today,” he said.

Bitcoin has been in an upward position since the beginning of 2021, as its value has risen by more than 90% so far this year, according to the latest data released by Coin Metrics.

These strong gains are partly attributed to the increased dependence of major investors and companies, including Tesla CEO Elon Musk and New York Mellon Corporation, on bitcoin.

And in an interview with the “Capital Connection” news program presented by the “C” channel. that. B. “It has become incredibly difficult for Bitcoin rejecters to keep telling them that Bitcoin will not be used by traditional financial institutions, that narrative that is a decade old,” said PC Group CEO Dave Chapman.

“I’m not sure how much additional evidence one would need to conclude that Bitcoin is a currency that will not disappear,” Chapman added.

However, Demirors cautioned, that investors should not allocate large portions of their balance sheets in favor of Bitcoin, explaining: “Our research has found that in the 60-40 traditional portfolio, allocating 4% to bitcoin balances the reward with the risk of downturn.”

The traditional portfolio, in which 60% of assets is invested in stocks and 40% in bonds, is a popular allocation strategy designed to generate steady income while shielding from volatility.

Bitcoin Failed Currency?

A professor of finance at New York University’s Stern School of Business, Aswad Damodaran, was more skeptical about investing in Bitcoin, and said, “Bitcoin is definitely not an investment, and if it is a currency it is a very bad currency.”

“Bitcoin basically looks like a speculative game, as long as it works similarly to very high risk stocks,” Damodaran added.

The article is a strategic analyst: The best time to invest in Bitcoin was yesterday, it was written in the Stock Exchange newspaper.

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Strategic Analyst: The best time to invest in Bitcoin was yesterday