David Seamer, CEO of asset management company Wave Financial, spoke out about the development of blockchain, bitcoin and the NFT boom.
In an interview, David Siemer said that he took notice of Bitcoin when it traded for less than $ 1 and bought it for the first time at $ 8. Wave Financial today manages over $ 1 billion in assets and continues to provide clients with innovative investment solutions.
Seamer recalled a situation where, back in 2017, he spent several days convincing a billionaire client from Southeast Asia to invest in cryptocurrencies. As a result, he invested only $ 250,000 in them, Seamer said. However, the growth of the cryptocurrency market in recent years and the increased focus on digital assets have not made the work of Wave Financial easier.
“It’s still difficult to convince people to invest in cryptocurrencies if they don’t understand them. The average Wave Financial client with a capital of $ 10 million to $ 20 million can own 30 cryptoassets that they bought on their own. Moreover, most of the clients do not even know why they are keeping them, ”said Simer.
According to Simer, since the inception of Wave Financial, he has already witnessed a collapse of the cryptocurrency market by more than 50% five times. Speaking about bitcoin, Seamer called it an effective store of value. At the same time, he said that bitcoin is “the least interesting cryptocurrency” that can be talked about, no matter how ironic it may sound.
Of much greater interest to Seamer are non-fungible tokens (NFT). The Wave Financial executive wonders that NFTs, which are regular JPEG images, can get millions of dollars. At the same time, he believes that the sale of collectible tokens is no different from the trade in traditional works of art – “fabrics with paint”, which can be sold for $ 500 million.
“Yes, there are crypto banks that sell for a quarter of a million dollars and they are ugly. I have one. I don’t know why I bought it, but it cost about $ 30 and I couldn’t walk by. The NFT market is expanding and this is just the beginning, ”said Wave Financial CEO.
He is confident that in a few years the total cryptocurrency market capitalization will reach $ 10 trillion. In addition, Seamer believes blockchain technology has great potential and is well-suited for tracking supply chains.
Last year, Wave Financial announced plans to tokenize between 10,000 and 20,000 Kentucky barrels of bourbon worth $ 20 million.
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