Asset managers see opportunities in growth stocks and crypto assets that have been unfairly hit in a bear market.
At Consensus 2023 on April 26, investors in the crypto sector, including Liliʻuokalani Trust CEO Dawn Harflinger, were optimistic despite the recent bear market. expressed a tone.
Halflinger said it was similar to the gore in “The Red Wedding,” one of the most memorable episodes of the popular TV series “Game of Thrones.”
He said he is looking forward to encountering the “burning building” of the cryptocurrency market, specifically participating in a funding round for a growth-stage blockchain company and investing further when it goes public. He said he was excited.
The panel also included Texas Teachers Director of Real Estate and Digital Assets Matt Halstead and 10T Holdings CIO Dan Tapiero.
Halstead said that digital assets are “potential investments that could be integral to the future of technology,” emphasizing the wide-ranging impact of innovation.
“I don’t know how this industry will develop in the future, but I think the future is bright.”
He said the digital asset opportunity is multifaceted and the overriding theme is that it is worth investing in, even though the value is now declining. He said the same for other members.
The ecosystem of digital assets is broader and deeper than before and less correlated with Bitcoin (BTC), Tapiero said. While he asserts that “no one is saying that Bitcoin will go to zero,” the existence of uncorrelated digital assets has encouraged institutional investors to invest in bitcoins, such as undervalued altcoins. He said he had an opportunity to branch out beyond the coin.
Tapiero said the entry of traditional financial institutions into crypto has pushed valuations to excessive levels. Assets with 10x to 12x returns now require valuations of 50x to 100x, resulting in market declines and many market participants calling for a “crypto asset winter”. It is said that he felt it.
Now is the time to expect big returns as valuations have returned to their previous levels, he said.
“If you know what you like and what kind of portfolio you want to build, it’s the best time to invest in crypto assets,” said Tapiello.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Dawn Halflinger (Shutterfly/CoinDesk)
｜Original: Tradfi Sees Opportunity in Crypto Despite ‘Red Wedding,’ Burning Buildings