The former Vice President of the Investment Management Division at major Wall Street financial firm Goldman Sachs, Christopher Mattis, said in an interview on CNBC that he would invest his mother’s money into Bitcoin. He is now the Co-Founder of Crescent Crypto Asset Management and expects Bitcoin’s price to return to USD 15,000.
In general, he says Bitcoin is a long-term investment, and it isn’t proper to look at 1-month price fluctuations when investing since there is a large amount of short-term price volatility. He recommends to all of his investors that they look 2-5 years into the future when dealing with Bitcoin. This is an excellent advice since Bitcoin has a tendency to increase in price by an order of magnitude every 2-3 years. It is combined with a tendency to decline 90% from the peak of a rally, which often scares investors out of the Bitcoin market, only to be followed by an even bigger rally.
Christopher Mattis thinks that more smart regulation in the crypto space can be good for the Bitcoin market, and his view is that regulators have generally been positive towards crypto. Like other cryptocurrency experts, Christopher Mattis thinks a Bitcoin exchange-traded fund (ETF) can be a positive catalyst for the market, and he also says cryptocurrency custodianship will bring in institutional investment money that has been waiting on the sidelines. Additionally, he says it’s hard to draw a causation between the launch of Bitcoin futures and the decline in the market, which is a theory proposed by Thomas Lee at Fundstrat Global Advisors.
Christopher Mattis says that his firm Crypto Asset Management is getting many new crypto investors despite the market downturn, and that these investors recognize that Bitcoin will be going up long term, and that low Bitcoin prices are actually a good thing since it facilitates a better investment entry point.
Follow BitcoinNews.com on Twitter at @BitcoinNewsCom
Telegram Alerts from BitcoinNews.com at https://t.me/bconews
Image Courtesy: Pixabay
The post Former Goldman Sachs Executive Says He Would Put His Mother’s Money Into Bitcoin appeared first on BitcoinNews.com.