Needless to say, 2020 hasn’t exactly gone to plan.
If you’ve been part of our community for a while, you’ll know that I’m a huge advocate for cryptocurrencies and blockchain technology.
In fact, I’ve written that we’re at the start of a cryptocurrency revolution, which will transform a myriad of global industries.
But that was before the Coronavirus pandemic. Surely this global slowdown has changed my view?
Well, not quite.
I still firmly believe in the future utility of cryptocurrencies – as do many professional investment fund managers.
Just look at the price of Bitcoin. While the March lockdown did cause its price to sharply fall, it now stands at $10,503.98. One year ago, its price was $8,688.97. So it’s proven resilient facing strong risk-off sentiment.
But we shouldn’t look at price too closely.
Rather, let’s look at utility. Blockchain technology (the building block of cryptocurrencies) is really what excites me.
Namely, Blockchain technology can disrupt several industries through something called Smart Contracts, which leverage the Blockchain to securely and instantly complete complex transactions.
There’s certainly a place for that in a post COVID-19 world.
Start A Crypto Investment Fund
With IFINA, you can set up your own Crypto Investment Fund. Just email me and we can arrange a free consultation on Skype.