Friday Oct 30, 2020
Friday Oct 30, 2020
CryptoCurrencyWire Communications Director Jonathan Keim, who appears in each week’s segment analyzing recent news in the market space, acknowledged alt-coin adoption by other companies making big investments into bitcoin.
Regarding a CoinDesk report about Stone Ridge Asset Management’s more than $100 million investment in bitcoin as part of a billion-dollar spin-off, echoing business intelligence company MicroStrategy in terming bitcoin a “primary treasury reserve asset,” Keim said he thinks the term is going to catch on.
“Institutional asset managers like this one and others are really seeing bitcoin in a new light. They’re even coming up with new terms, like this one,” Keim said. “So, it’s helping everyone understand what bitcoin is and it’s quite frankly getting contagious at this point.”
Taylor also noted a Decrypt report on Fidelity Digital Assets’ turnaround in regard to its views on bitcoin, shedding its adverse opinions three years ago to tout bitcoin as a unique vehicle among investment assets.
“I really think Fidelity nailed it in their research,” Keim said. “Ultimately the research points out how bitcoin is uniquely decoupled from other asset classes. . . . In conclusion, the report said, ‘Bitcoin is a unique, investable asset with compelling differences relative to both traditional asset classes as well as conventional alternative investments.’ And then, just rounding off the sentence, they said, ‘That could make it a beneficial addition to portfolios.’ So they’re kind of hinting, you know, this might be something you want to take a look at.”
The Wild West Crypto Show appears on TV in multiple markets across the country as well as online as a humorous and educational forum for providing information with the intent of reducing some of the consumer wariness about alt-currency. To view the latest episode, which includes CryptoCurrencyWire’s ongoing segment featuring recent news from around the world, visit https://www.ccw.fm/Tldyi