Can cryptocurrencies really not be considered as an investment option?
As volatility is becoming present at the extremes of the sideways channel that I talked about yesterday, news that leave the cryptocurrency market in a very bad position start to circulate, for example today there is information about why cryptocurrencies cannot be considered as an investment option.
From my perspective I do not share the vision of the reasons why cryptocurrencies cannot be considered as an investment option, however, I wanted to share with all of you some of the approaches that hover over this controversial debate.
Now then, and in attention to an interview for Fortune, "David Velez, founder and CEO of Nubank, highlighted that 98% of cryptocurrencies cannot be considered as an investment option, however, Bitcoin (BTC), as well as other cryptoassets, are different from all".
According to Velez, "Nubank was late to the cryptocurrency market race as the bank announced its first initiatives in the sector only during the 2020-21 bull run. However, he said the bank is focused on the market and has a different perspective from other companies in the sector, which gives it an advantage in launching products and services."
One fact to note is that "Nubank's involvement in the cryptoasset market began around 2020, when the bank allowed clients exposure to investment funds linked to the cryptocurrency market. Shortly thereafter, later that year, a post on the bank's official blog highlighted the disruptive potential of digital assets, especially BTC"
Now beyond Velez's position, I would like to know your opinion on whether cryptocurrencies really cannot be considered as an investment option?
SOURCES CONSULTED
Cointelegraph. 98% of cryptocurrencies are useless as investments, says Nubank founder. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
Greetings dear @lupafilotaxia, I particularly think that if they can be considered a very good investment, behind some crypto assets there are many important companies that are generating services in real life. we just need to investigate which ones have good potential.
See you later, have a great week.
I kinda agree with you because some projects have gone just beyond the buy and sell mechanism. Projects like Bitcoin, Ethereum, Ripple and Chainlink have been recognized as financial infrastructure for real word financial solutions such as payment solutions, banking transactions, cross-border payment and more. So, yeah, it's a viable investment if we look deeper than just the get-rich-quick mentality
Hi @amestyj
No doubt there are some services that offer potential alternatives, the point is that in the current circumstances in war scenarios it only favors the dollar as the dominant currency, while risk assets yield space there BTC will retreat.
Best regards, be well.
Cryptocurrencies are a special kind of investments, One without adequate regulation and only backed by human behaviour. I think it is right to consider them a kind of investment
Hi @joelagbo
Totally agree cryptocurrencies beyond state regulations and formalities are a good investment opportunity.
Best regards, be well.
From my experience on crypto esp BTC, it's the best form of investment cos I could remember what I missed by not being among the early investors of Bitcoin. Tho was able to accumulate some that has given a good ROI & prolly looking for ways to DCA at Bitget Exchange.
Hi @diamondhand3
Totally agree BTC is an extraordinary investment opportunity as long as you execute entry orders in the buy zones, I also come accumulating some alternative cryptocurrencies for example STEEM.
Best regards, be well.