7 Well-known Wall Street Investors That Don’t Believe in the Cryptocurrency Hype

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There are a lot of investors who own youtube channels advising people to expand their portfolios with cryptocurrencies, especially bitcoin and Ethereum. There are some altcoins out there, too, that these investors advise traders to purchase because they are the future coins.

 Even with all the hype around crypto in the past, some investors still do not advise putting all your portfolio investment in crypto. As an investor, it is good to have savings for emergencies (emergency funds). Using relevant examples, here are some investors who don’t advise putting all in.

 Jeremy Schneider (Owner of the PFC)

 Having known about bitcoin since 2010, Jeremy Schneider was not sure about cryptocurrency. According to his statement, he believed that the currency would not rise by $1 anytime soon. To his surprise, the coin picked up considerably, and today, it is worth more than $40,000

 Still, Jeremy does not advise young investors to put all their money in it. Today he has up to $2000 investment in bitcoin, which is not even up to a percentage of his total investments. Schneider has a total investment of $4.1 million in other assets. It is better to make a small investment in bitcoin or any other cryptocurrency.

 In his words, assets such as real estate give dividends to the owners. On the other hand, you buy a coin and hope it increases in the future. Jeremy believes crypto may go extinct in the future. This may be because of one factor, whereas one cannot say the same for real estate investment.

Jully-Alma Taveras

A highly respected investment/finance Instagram authority, Jully is skeptical about crypto.

 According to her, investing in crypto is a great way to expand your portfolio. Other markets, such as stocks, have existed for a long time.

 For this reason, the stock market is reliable, unlike Cryptocurrencies which were just introduced. Taveras says because crypto is new, it has uncertainties.

 Focusing all of your portfolios on this new asset can be dangerous as an investor. It should be used as a means to diversify their trading portfolio. Expanding your stock investment should be done during the weekdays. While increasing your crypto investment should be done on weekends since most brokers allow trading crypto trading 24/7.

 

Taveras says cryptocurrency markets should track stock markets.

Kiana Danial

 

Cryptocurrency trading can seem like a promise, allowing you to earn money easily. The truth about cryptocurrency, according to Kiana, is it comes with a lot of risks.

 

Kiana started following cryptocurrencies in 2016. According to her, she only started investing in 2019. She advises investors to have a proper thought about whether or not they want to invest in crypto; She says many people got lucky when they bought bitcoin, and many others are suffering because of the recent drop in its price.

 As a piece of advice, she warns against investing in crypto-based social media trends. 20% investment is enough in cryptocurrency to kick off your trading experience in the asset.

Warren Buffett

According to an interview with Warren Buffet on insider, he says that cryptocurrencies do not have any value. They cannot reproduce or mail the investor a check. What he means here is that cryptocurrencies have zero value to them.

 Like Jeremy Schneider, Warren Buffett also says that those who invest in crypto usually do so with the belief that they can sell it at a higher price in the future. This is a risk, and no one knows what the future holds. Buffet believes that investors with this thought have a problem.

 He states that bitcoin and the era of cryptocurrencies will come to a “bad ending.” This is an event that is sure to happen, according to him. He said so in an interview with CNBC.

Gita Gopinath

 

Gita Gopinath is IMF’s chief economist. In an interview with her in 2021, she stated that bitcoin is a Cryptocurrency that does not help fiat money in any way. As a result of the high demand, the dollar rate might be at a high risk of depreciating.

 She states there is no relation when it is combined with real money. This can be found on Bloomberg’s official website. 

Marc Russell

 

As the owner of Betterwallet, Marc Russell mentions that he prefers to stick to the basics in an interview. What he means is that he prefers dealing with what he already knows. In his speech, Marc mentions that he focuses on long boring investment strategies. Even though he acknowledges that he prefers the old investments, he still says investing in crypto is not such a bad idea.

 

Like Taveras, Marc believes that adding crypto into your portfolio should be a means for you to expand your trading portfolio. Adding crypto to your existing trading assets, such as stocks and commodities, is not bad. A 5% allocation of crypto investment is good enough.

 He adds that going into crypto just because of the news and hype surrounding it is not a good idea. Investors should only invest in crypto, knowing the risks that are in it.

Paul Krugman

 

Krugman, a Nobel laureate for economics, discredits cryptocurrency, especially bitcoin. He states that crypto is not a suitable market exchange mode. Krugman states that the asset is not stable, and this is true – crypto fluctuates. He says that it is not a unit that can be accounted for.

 The reason crypto has value today is because of many individuals who fear that real money will someday stop being in existence. And the world will go technological.

Conclusion

Most people start trading crypto because they take social media trends about cryptocurrency seriously. Most of them do not know just how the whole process works. Most of the investors above advise that having crypto is a good way to expand your portfolio. Trade crypto in small percentages. Please do not put all your money into it, and lastly, have the proper education about cryptocurrency before you decide to include it in your portfolio.

 

 

 

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