The co-founder of investment firm Horizon Kinetics, which manages $ 7 billion in assets, called cryptocurrencies an excellent asset for hedging risks.
In an interview with the Financial Times, Peter Doyle emphasized that the crisis over the coronavirus pandemic and growing global debt is only developing. And his firm’s consultants advise their clients to invest in cryptocurrencies.
“After the pandemic there is no turning back – there is a problem of national debt, which will lead either to inflation or to default. People should be able to invest in this asset class. Long-term investors usually rarely shift funds. They enable the companies they have invested in to grow and generate profits, ”Doyle said.
Thus, the investor expects the world’s largest currencies to face significant inflation in the coming years. And cryptocurrencies will help keep your savings.
Back in 2016, one of the Horizon funds, called Paradigm, invested 1% of its portfolio in Grayscale’s GBTC fund. Now this investment is 10% of the portfolio.
A recent survey by Goldman Sachs showed that wealth management companies in the world are interested in cryptocurrencies. About 50% of them are going to add cryptoassets to their portfolios.
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