Top Executives and Financial Advisors Choose Bitcoin

Bitcoin is finally securing the interests of big-name players in the financial stratosphere.

For many retail investors, this year has marked a journey into the forays of bitcoin and cryptocurrency. Carefully turning towards trusted exchanges like Bitvavo, which are known for doling out excellent advice and helping novice investors orientate themselves amidst the often confusing sea of crypto tech. Since the beginning of 2020, bitcoin has seen its share of new retail investors to be sure, but perhaps what the market wasn’t expecting was the mass adoption from industry leaders in traditional markets.

In the past two months, bitcoin has seen a fevered rush to exchanges and developers by companies that have long been champions of legacy and traditional finance. But that all seems to be changing as some of the biggest household names in investing and payment platforms now look towards crypto as their next biggest venture. 

Experts Weigh In

YouTube, Twitter, and a number of other influential sites for bitcoin news have seen more than their fair share of industry experts and business gurus come out to champion bitcoin in the last month. Some of the top investors in traditional finance like former Goldman Sachs hedge fund manager, Raoul Pal came to YouTube to share his prediction that the favoured cryptocurrency price could reasonably hit $1 million per coin in “…five years, six years”. Yassine Elmandjra, notable Tesla investor and Ark Investment Management analyst had even loftier predictions, as he reported last months that “Bitcoin offers one of the most compelling risk-reward profiles among assets, as our analysis suggests it should scale from roughly $200 billion today to $1-5 trillion network capitalization during the next five to ten years.”

The mutual fund giant and respected fund manager Bill Miller went on the record saying that bitcoin is so strong, that he predicts every major investment bank is bound to own crypto in the near future, particularly as faith in fiat and central banking systems is rapidly deflating alongside the rampant quantitative easing measures governments are currently taking. Suggesting that nearly anyone who invests in financial markets will own bitcoin at some point, largely owing to its properties as a safe-haven hedge. Attributes that have only been confirmed, again and again, this year.

More snarky investors are coming out to warn skeptics of their poor predictions in the past, not just of bitcoin, but of other staunchly missed opportunities. Where Apple seemed to have a solid following from the get go, platforms like Amazon faced harsh criticism in the early days, but investors were soon to see the folly of their derision. Despite being shown, time and time again, that bitcoin is not only not a fad, but these bubbles behave much more like rallies- many legacy investors are still missing the bots. But more and more are coming around.

Old Business Learns New Tricks

Particularly when it comes to big business. Payment platforms and legacy finance speculators aren’t the only ones seeing true promise in the future of bitcoin. Industry giants like MasterCard, Visa, PayPal, and Square have all started to put their bitcoin where their mouth is. Creating new crypto friendly infrastructure and gearing up for mass adoption- which has so far paid off.

PayPal execs reported a keen interest amongst users of their beta testing roll out on their new crypto-embracing platform. With more interest in the new software than they had originally anticipated. Payment platform Square is reporting similar enthusiasm for their newest software. As their stock prices and adoption of crypto payments steadily rise in tandem. Even Twitter has gotten into the action by announcing the release of new, two-factor authentic action using their social media platform and bitcoin. Bessemer Ventures, a massive investor in all things tech and growing (like LinkedIn, Pinterest, Twilio, and others) blogged recently that “We strongly believe bitcoin will become a globally accepted asset class that institutions will increasingly seek portfolio exposure to given its asymmetric risk profile, scarcity characteristics, and ability to serve as a digital store of value”, mirroring the sentiments of bitcoin creator Satoshi Nakamoto back in 2009.

Currently, big business and even governmental policy have turned a friendly eye towards bitcoin- finally jumping aboard a train that has been gaining trusted momentum over its decade long existence. Which leaves room for a few others to jump aboard before we see a total acceptance of the crypto, we all know and love.

Source: https://coinweez.com/top-executives-and-financial-advisors-choose-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=top-executives-and-financial-advisors-choose-bitcoin&utm_source=rss&utm_medium=rss&utm_campaign=top-executives-and-financial-advisors-choose-bitcoin