Bitcoin: The Investment Powerhouse
Erik Voorhees, the CEO of Shapeshift, isn’t just blowing smoke about Bitcoin; he’s drawing a figurative line in the sand and daring asset managers to cross it. According to Voorhees, if you haven’t wrapped your mind around Bitcoin and its staggering return on investment, it’s time for a financial re-evaluation. And why wouldn’t you? With a jaw-dropping 7,837,884% increase over the last decade, Bitcoin is the financial equivalent of Uncle Bob at Thanksgiving: hard to ignore and absolutely wild.
The Numbers Don’t Lie
In a world obsessed with profits, Bitcoin isn’t just in a league of its own; it’s rewriting the playbook. Comparatively, gold has limped its way to a 32% profit, while the S&P 500 has tripled investors’ money. Bitcoin? A staggering 7.8 million percent. Or in simpler terms, it’s like comparing a bicycle to a rocket ship. The message here is clear: If you’re managing assets without considering Bitcoin, are you even doing your job?
Who’s Jumping on the Bitcoin Bandwagon?
For those still holding onto traditional stocks, listen up: the financial elite are changing their tune. Recently, several traditional finance wizards have made bullish comments about Bitcoin, suggesting that it’s becoming a near necessity for serious investors. Michael Moro, CEO of crypto trading firm Genesis, predicts that a whopping 250 publicly traded companies will dive headfirst into Bitcoin by the end of 2021. Talk about getting on board before the train leaves the station!
Bitcoin vs. Gold: A Beautiful Rivalry
However, the ever-dedicated gold evangelist, Peter Schiff, isn’t going down without a fight. Schiff insists that the separation between gold and Bitcoin is as wide as the Grand Canyon and remains skeptical of these new predictions. Is gold worth ditching for digital coins? According to many, it’s only a matter of time until Bitcoin claims a throne right next to gold. Dan Tapiero, co-founder of Gold Bullion International, boldly claims Bitcoin could surge into the six-figure range, and who doesn’t love a good financial fairytale?
Can Asset Managers Afford to Ignore Bitcoin?
Voorhees succinctly states, “One could be forgiven for not understanding it eight years ago, but today? Ignorance is a career risk.” With luminaries like Larry Fink of BlackRock suggesting that Bitcoin could displace gold significantly, the writing is on the wall. For asset managers still on the fence, it might be time to realize that ignoring Bitcoin could be as silly as ignoring a financial nuke in the room.
Final Thoughts
As we look forward, the consensus is rapidly changing. Whether you’re pro-Bitcoin or a staunch gold supporter, one thing is certain: the evolution of assets in the finance world is marching forward at breakneck speed. So if you’re still clinging to your old-school investment strategies, it may time to give Bitcoin a chance—unless, of course, you like seeing your portfolio stuck in the slow lane.
