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Meltem Demirors – chief strategy officer at digital asset investment firm Coin Shares – stated in a recent interview that all those who are quickly investing in bitcoin are late to the crypto party.
Meltem Demirors: You Needed to Invest in BTC Yesterday
During a discussion with CNBC, Demirors commented that one of the primary reasons many have not invested in bitcoin is likely due to regulatory hurdles that may allegedly appear in the coming future. However, she is confident that many of the regulatory changes that are set to occur will not hurt bitcoin, but rather enhance it, and that those that didn’t invest early will be sorry. She says:
The regulatory issues have been around for a long time. We’ve been dispelling for a long time. At this point, our belief is bitcoin is not a question of if, but when. We certainly believe, you know, the best time to invest in bitcoin was yesterday. The second-best time to allocate is today.
Bitcoin has been doing extremely well as of late. The world’s number one digital currency by market cap recently hit a new all-time high of roughly $57,000 per unit, making the recent $40K mark it struck at the end of 2020 look relatively small by comparison. Anyone who invests in the asset today is going to have a particularly hard time getting more bang for their buck when compared with someone who got involved a few years ago.
Dave Chapman – executive director at BC Group – says that bitcoin is here to stay, and there is no longer reliable justification regarding why a person wouldn’t invest in the asset. He comments:
It’s becoming increasingly difficult for the bitcoin naysayers to continue with their decade-old narrative that bitcoin will never be utilized by traditional… financial institutions. Frankly, I’m not sure how much more evidence one needs to conclude that bitcoin isn’t going away.
When one looks at the serious facts of the previous week, it’s hard to say he doesn’t have a point. After all, many major banks – including BNY Mellon in New York, one of the oldest financial institutions in the United States – have begun offering crypto custody services to their clients, while large companies from General Motors to Uber have commented that they are now looking to permit bitcoin and crypto payments in the future.
The Price Swings Are Still Problematic
Still, digital assets are somewhat marred by volatility, as was the case recently when bitcoin fell by about $3,000 from $56,000 per unit to $53,000 at press time. The dip followed a series of tweets by South African entrepreneur Elon Musk, who commented on social media that both bitcoin’s and Ethereum’s prices were “too high.”
For this reason, Demirors says that people shouldn’t be investing all their money into BTC just yet, and that around four percent is strong enough to avoid certain risks.