If you’re a regular reader of my emails, you’ll know that I’m a huge believer in cryptocurrencies.
But thanks to Coronavirus, the world is now a very different place.
It begs the question – with a risk averse appetite gripping the markets, what does the immediate future hold for cryptocurrencies?
The State Of Play
Like all financial assets, cryptocurrencies were not immune to the impact of the global economy going into lockdown.
Take Bitcoin for example. Its price dipped to just under $4,000 USD in early March – a significant drop from just under $8,000 USD one month earlier. Since that time the price of Bitcoin has steadily recovered above the $7,000 USD range.
To me, this is a sign of long-term confidence in Bitcoin.
Furthermore, I believe Coronavirus highlights the need to digitalise monetary transactions. In particular, Blockchain technology has transformational utility in a world where remote working might become the new normal.
Our Investment Will Continue
So our faith in cryptocurrencies remains unshaken. It’s a view many of our investment fund managers also share. That’s why IFINA will continue to invest in developing dedicated cryptocurrency solutions and services.
One example of this is our Crypto Fund Platform. In this structure, fund managers can create a legally segregated sub-fund on the “IFINA Crypto SPC” platform. Setup costs just $12,000 USD.
We’ll also continue to develop close institutional relationships with other crypto service providers, such as FTX, Deribit, Koine, Bequant, Bitstamp and Bybit.
Book A Consultation
Interested in our dedicated Crypto Fund Platform solution? Just email me and we can arrange a free Skype consultation.