18.05.2024

A large investment firm will enable its clients to buy cryptocurrencies

Asset management company Gerber Kawasaki, serving 7,500 clients and their $ 1.8 billion in funds , is moving to promote new cryptocurrency-related services.

The California-based investment firm will begin buying coins on behalf of its clients through Gemini, one of the most popular digital asset exchanges. That being said, Gerber Kawasaki CEO Ross Gerber himself is a longtime Tesla fan and Bitcoin supporter.

The decision to allow customers to deal with cryptocurrencies seems logical. It looks like Bitcoin and the blockchain asset market are nearing the end of the recent stage of correction and are ready for further growth. Specifically, BTC is up 10.1 percent over the past week, while Ethereum is up 13.3 percent.

Today, the first cryptocurrency is valued at $ 55,699, which is only 5.3 percent below the historical record for the BTC rate. Therefore, in the near future, we can expect new statements from companies about investing in cryptocurrencies and willingness to interact with them.

Here is a chart of the Bitcoin price over the past week.

bitcoin chart rate

Bitcoin price chart for a week

And Ethereum’s behavior for a month.

Ethereum price chart

Ethereum price chart for a month

A new participant in the cryptocurrency market

Gerber commented on his decision in an exclusive interview with the news outlet Decrypt. Here is his remark, in which the expert shares his opinion on what is happening.

If I don’t offer this to my clients, I am essentially missing out on an opportunity that can be incredibly profitable. In the same way that I try my best to buy these annoyingly difficult shares of companies in the cannabis sector from Canada. But I know the capabilities of these companies, so I am working hard to do it. Just like I am currently experiencing difficulties launching a new cryptocurrency service.

That is, the investor sees potential in the cryptocurrency niche and believes that the industry can bring great profits. Moreover, this applies not only to the company, but also to its customers, who will have the opportunity to make money on the growth of coins.

Ross Gerber Gerber Kawasaki

Ross Gerber

Gerber noted that he has held Bitcoin for years, believes in the digital gold investment thesis, and has watched Wall Street’s sentiment regarding the adoption of the crypto industry.

I buy shares in companies in the cannabis industry, I buy Tesla, so I am used to negative sentiment. I think the argument against Bitcoin as a store of value has to do with its volatility. Gold is not so volatile because we have 5,000 years of gold ownership over the course of human history.

In addition, he also holds Ethereum and Binance Coin. It is a good choice for investment in the cryptocurrency industry. Ethereum will go through important updates that will make the network much more powerful, and BNB traditionally relies on the popularity of the Binance exchange. The latter is the largest trading platform in the world.

Gerber Kawasaki will start buying cryptocurrencies for its clients from March 28th. These will mainly be Bitcoin and Ethereum. The expert continues.

So if, say, you invested a million dollars in me, you can take 10 thousand or 20 thousand dollars and implement this diversification into cryptocurrencies. We are going to buy cryptocurrencies through Gemini.

Recall that Gemini is a project of Bitcoin billionaires and investors of the Winklevoss brothers. And the platform itself acquired the Nifty Gateway platform, where NFT tokens that are currently trending are actively traded. Read more about the topic of digital art and blockchain in a separate article.

Despite the fact that more and more organizations are buying Bitcoin – from hedge funds to public companies like Tesla, Square and MicroStrategy – Gerber doesn’t like everything he sees in the crypto space right now. In particular, he is not a fan of the meteoric rise in the NFT space that is currently underway. Here is an investor’s comment.

This is what is killing Bitcoin. This is what kills him every time. Last time there were ICOs. When Bitcoin is doing well, scammers just show up like flies. NFT is another way to rob people.

There is a possibility that this point of view is slightly exaggerated. Still, NFT is taking advantage of the blockchain and redefining digital property rights, which is why the topic is now in incredible demand. At the same time, many ICOs in 2017 essentially turned out to be a way to get investors’ money without the goal of providing some kind of working product. Therefore, the comparison is not entirely appropriate – especially considering the debut of NFT work at Christie’s.

We believe that Gerber Kawasaki’s management made the right decision. At the moment, the cryptocurrency industry seems to be the most promising: from the point of view of both earning opportunities and improving the world. In particular, the industry of decentralized finance is still at the initial stage of its existence, which is why further active development awaits it. People are waiting for new decentralized exchanges, decentralized insurance and many other innovations.

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