Erik Voorhees, the American entrepreneur who founded ShapeShift, recently stated publicly that any asset management company that knows nothing about Bitcoin “needs to carefully check its asset list . “
After he shared this sentence on Twitter, Dan McArdle, the co-founder of Messari, a well-known cryptocurrency analysis platform, shared data showing how Bitcoin has outperformed other assets in the past decade.
In the past ten years, Bitcoin’s return was 7,837,884% , while gold’s return was 32%. The S&P 500’s return on investment is still as high as 201%.
Voorhees further spends, in the past 10 years, Bitcoin is “much better than any other investment.”
He added that in three hype cycles in 10 years, based on experience, Bitcoin is “better” than any other investment . The lack of understanding about it eight years ago may be forgivable… But any asset manager who still does not understand this phenomenon today needs to carefully check its asset list.
In the past few weeks, Bitcoin has been rising to the $19,000 range, and many in the industry believe that institutional investors are the reason for this rebound . Overall, Bitcoin has risen by more than 160% this year, attracting many investors, such as Wall Street financial giants Paul Tudor Jones and Stanley Druckenmiller and financial technology giants Square and PayPal.
The co-founder of the cryptocurrency exchange Gemini, the Winklevoss twins, even stated that Bitcoin could one day be worth $500,000. They believe that as more and more global investors adopt leading cryptocurrencies as a means of hedge against inflation, Bitcoin will gain 25 times its current value.
Other financial entities have also made bullish comments on Bitcoin. For example, former JP Morgan Chase commodity trader Danny Masters (Danny Masters) told CNBC that soon, “if you don’t include Bitcoin in your portfolio, you may face Occupational risk”.
Michael Moro, CEO of cryptocurrency trading company Genesis, predicts that by the end of 2021, 250 listed companies will invest in Bitcoin.
However, Peter Schiff, another gold advocate, still doesn’t believe the market’s words. He recently called Bitcoin a bubble and said that when this “bubble” starts to emerge, “the real “Fool” will be exposed. According to American stockbrokers, in the event of inflation, when “institutions finally start to worry,” they would rather invest in gold than Bitcoin.
The original text comes from ambcrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the compiler for Chinese reprint.
