Investment consultant who is also a manager at Blackrock firm Edward DowdHe stated that despite the turmoil in the crypto markets, Bitcoin is permanent and everyone has the qualifications to enter their portfolio.
Dowd, who appeared on the podcast hosted by Layah Heilpern, bitcoin He explained that when he matures, he thinks it will likely beat gold because of its unique features such as being able to trade digitally.
According to the investment advisor, while gold remains a viable investment, Bitcoin continues to have a better chance as a store of wealth. He noted that Bitcoin’s growth journey, characterized by ups and downs, has helped the leading cryptocurrency stay on longer.
“Bitcoin will stay here and be a part of everyone’s portfolio. You can trade Bitcoin digitally, but trading gold requires a more difficult process, at least in my case. Of course, I am not against gold, and having some gold is not a bad idea at all.”
Bitcoin Will Become the Amazon of Crypto
The investment advisor added that with the maturity of cryptocurrencies, Bitcoin will continue to stand out. Comparing the cryptocurrency market to the “dot com” era, when most companies collapsed and the stronger ones survived, according to Dowd:
“I can compare crypto to the dot com era where 90% of these companies went to zero. 10% of them Amazon it happened. It’s up to the crypto folks to figure out what the crypto Amazon is. I think Bitcoin is clearly running. Good luck to the other coins!”
Further, Dowd argued that Bitcoin’s growth will be driven by the underlying characteristics of the asset that make it better than central banks. In this case he referred to elements such as transparency, freedom and technology.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.