Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, made an interesting analogy with Bitcoin and Ethereum in an interview with Yahoo Finance.
The famous CEO, who likened the two largest cryptocurrencies of the market, Bitcoin and Ethereum, to “cockroaches”, argued that BTC and ETH are the best options as a long-term investment.
“Bitcoin and Ethereum are like cockroaches and they will not die, they will continue to exist. Bitcoin and Ethereum crypto assets have been the best way to invest for the long term.”
Gerber stated that Bitcoin and Ethereum are close to collapse, but they will come back stronger than ever after the collapse they will experience.
“In seven years, I’ve seen them nearly get killed several times, and they continue to survive just as cockroaches have lived for thousands, if not millions, of years.”
The famous investor, who describes himself as a long-term investor, stated that the crypto market is full of cryptocurrencies that are of no use to investors.
Adding that he does not want to do anything with these cryptocurrencies, the American investor warned investors that for the useless crypto crowd, the next bear season will eventually come and it will be “brutal”.
Referring to the high inflation environment in the USA, Gerber stated that he did not see any correlation between Bitcoin and inflation in the USA, and said that the pullback in Bitcoin was due to its very high price and having a great year.
*Not investment advice.