Christopher Matta, a former vp of investment management division at?Goldman Sachs, still maintains although invest his mother’s make use?bitcoin.?A callout box within the TV screen noted Matta believes money to $15,000 for bitcoin is attainable.
Now the co-founder of Crescent Crypto Asset Management, told CNBC’s “Fast Money” in June that for even the most conservative investor, raise the risk adjusted returns on cryptocurrency are wonderful compared to other asset classes, kept in mind however the volatility.
Matta Urges Calm
Since that interview, bitcoin is down 7%, but Matta said she’s still bullish and advises consumers to stay calm, noting that it is long-term investment. He told?Extra cash?Thursday there is a lot of short-term volatility. He recommends people invest for two main to five years.
“The bullish sentiment hasn’t changed during six months,” he stated. “Regulators have started to aid. We think that more and more smart regulations is generally good.”
“If you’re bullish for a long time, $6,000 is definitely a decent entry way,” he said.
Asked if the introduction of bitcoin futures has affected bitcoin’s volatility, Matta said volatility has continued at a heightened level. He said it has been difficult determine if the futures have impacted volatility.
“I do not think there’s necessarily causation there,” he explained.
More Investors Expected
Downward periods have happened before, he said. Over the long term, the infrastructure will continue to be built. This will encourage retail plus institutional investors to the space.?Later on, he said products for example?ETFs?will increase access to the asset class.
Asked if he has been seeing new buyers coming in, Matta said that he has.
Asked if the futures market diminished bitcoin’s scarcity value, which some think became of the gold ETF, Matta said he thinks the scarcity remains.
“I can’t make that connection (between futures and scarcity),” he concluded.