Bitcoin Is Going to the Moon, Claims Crescent Crypto Asset Management CEO

Bitcoin Is Going to the Moon, Claims Crescent Crypto Asset Management CEO
фото показано с : blokt.com

2018-8-1 18:23

Could passive management be the best strategy for handling your crypto investments? If Ali Hassan, cofounder and CEO of Crescent Crypto Asset Management, were to be believed, this is the soundest investment strategy for people who believe in crypto. Speaking to Bloomberg TV, Hassan said that Bitcoin’s price is going to the moon.

Hassan Speaks Out on His Index Fund and Digital Currencies

When asked how the drop in crypto prices affected his fund, Hassan said that cryptocurrencies are a volatile market, but their fund reduces asset volatility by “holding 20 coins with slightly different levels of correlation and using a 90-day trailing average market cap.” He also claimed that his fund hadn’t witnessed a single redemption yet, and demand has only increased with time. He also said that passive investing through index funds is a good way to get exposure in the crypto markets.

Upon being asked about Bitcoin ETFs, he said that there is a possibility of Bitcoin-only ETF in the next 18 months. He also said that the advent of the crypto ETF will help increase market participation in the cryptocurrency sector.

He was also asked about his opinion on the prices of Bitcoin, to which he replied:

“[Price is headed] to the moon. We are expecting it to go much higher … There’s orders of magnitude to go.”

A Brief History of Crescent Crypto Asset Management

Crescent was created by three former Goldman Sachs executives in late 2017. The three co-founders, Christopher Matta, Michael Kazley and Ali Hassan, who are also the chief executives of the firm, were all under 30 and wanted to leave their banking career behind to create a crypto index fund. They ended up creating the Crescent 20 Private Index Fund, which maps the 20 largest cap and most liquid cryptocurrencies in the market. All coins that do not meet “stringent institutional thresholds” are excluded from the index.

The index represents 1 percent of the 2,000+ cryptocurrencies existing in the market today. It includes Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar Lumens, Tron, Neo and Dash. Other currencies held by the fund are Monero, NEM, VeChain, Ethereum Classic, Qtum, OmiseGo, Icon, Lisk, Zcash and Ontology. These 20 currencies hold over 90 percent of the total market cap of cryptocurrencies. Of these, Bitcoin holds the largest weight in the fund (44.7 percent), followed by Ethereum (19.3 percent), Ripple (8.7 percent) and Bitcoin Cash (6.1 percent).

Bitcoin Is Going to the Moon, Claims Crescent Crypto Asset Management CEO was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Источник: blokt.com

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