Eric Peters, CEO of One River Asset Management, told Bloomberg today that they are “significantly underestimated” for Bitcoin and other cryptocurrencies. The worldwide coronavirus epidemic has become the perfect “driving force” for the rise of cryptocurrencies, according to Peters.

 

 

“The coronavirus worked for cryptocurrencies.”
Peters used the following words in his statement:

“Digital assets are significantly underestimated compared to some of the other stores of value. This is what excites us about it. Cryptocurrencies are an under-valued asset for this macro background. ”

Throughout his career as a macro investor, Peters explained that he primarily looked at macro indicators and did not look too much at technical ones, but even then cryptocurrency technology “constantly surprised us where it is taking us.”

“I’ve seen a number of new second-tier applications to be built on this technology platform, and these are extremely promising. In essence, I’ve seen enough to know that tomorrow will look better than today. And when you invest, you think it’s incredibly important. ”

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“A driving force that drives even central banks”

According to Peters, the coronavirus epidemic has created an expansion “more than almost anyone can imagine.”

“At this point, the fact that it combines with monetary policy, the fact that we lend a huge amount of money, the fact that we have our central bank buy them… This is the dynamic we expect. This is the scale of the work. It’s a very deep, really driving force. ”

One River invested an undisclosed amount of cryptocurrency in early January. It is thought that this could be “one of the largest digital asset trades in history”. At the time, Peters stated that holding digital assets allowed investors to “align” themselves with macro trends.

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