The cryptocurrency market is a small one, but it is being recognized little by little by investors who see in it a good opportunity to put a reduced chunk of its portfolio bets on future investments. Known cryptocurrencies like Bitcoin and Ethereum are the most common investment options chosen by these investors who are keen on investing even if they recognize the volatility that the crypto assets experience even daily. That is the case of Matt McCall, a known investor in the tech side of stocks that has declared that cryptocurrencies are a viable option to get over the recent tech slump that some traditional tech stocks like Google or Facebook have had recently while talking to CNN recently.
Matt McCall is no new guy into this business either, he is the founder of Penn Financial Group, an investment company that was founded back in 2004, and has had a recognized expertise in trading mostly tech stocks, a thing that he still thinks that will pay dividends in the long run. But, he also thinks that cryptocurrencies like Bitcoin and Ethereum are good investment options in the long term. He declared that he “Loves them”, and he thinks that blockchain, the technology behind cryptocurrency will change the way that some things are being made in the tech industry.
About the elephant in the room for cryptocurrencies (volatility), he stated that:
“YOU HAVE TO BE A CERTAIN TYPE OF INVESTOR TO BE ABLE TO STOMACH THE WILD SWINGS”
Cryptocurrencies have been falling in price since last year’s December, when bitcoin, the most known cryptocurrency rose in value till $20,000, but now the value of this crypto assets is around $6,000. Still, he considers this a good time to get in the cryptocurrency market because with this drop, there is room for sizable gains in the long term. It does not mean that bitcoin could not drop 30% in a day, but besides that, he envisions these assets to surge in value due to their growing importance.