Cio BitWise: Now is the best time to buy bitcoin

The Decree of the US President Donald Trump on the creation of a bitcoin reserve eliminated the “last existential crisis” for the asset, which makes the current stage the best time to buy the first cryptocurrency. This was stated by the investment director (CIO) of BitWise Matt Hawgan.

In a note for customers, the expert pointed out a “great reduction in risks” of bitcoin. He cited as an example of February 2011, when he had the opportunity to buy the first cryptocurrency at a price of $ 1.

However, at that time this meant sending the indicated amount to the accidental address of PayPal. This in itself is a significant risk, but at the same time it was also necessary to take into account potential difficulties with storage and regulation, Hawgan noted.

And even after the launch of spot exchange funds based on the first cryptocurrency, the risk of government interference remained, Hawgan believes. However, he was leveled after Trump signed a decree on the creation of a bitcoin reserve.

When asked why the head of state went to this taking into account the possible risks for the global dominance of the dollar by Bitcoin, Hawgan answered the following:

According to the expert, this reduction in risks was reflected in the behavior of BitWise customers. If a few years ago they allocated an average of about 1% on crypto assets, which was justified by high risks, now this indicator is 3%.

Hawgan’s opinion coincides with the statement of the portfolio manager of the large holding company T. Rowe Price Dominic Ritzo. He believes that the bitcon is close to the bottom, since its price fell almost to the level of production. Therefore, now is the most successful time for investment in the asset, the expert believes.

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