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Blueprint Capital Advisors CEO Jacob Walthour stated that it is wrong to treat cryptocurrencies as an asset class. He also predicted that in the foreseeable future, cryptocurrencies will outperform stocks.
Investment advisers expect cryptocurrencies to outperform stocks
Jacob Walthour, CEO and co-founder of Blueprint Capital Advisors, discussed his outlook on the cryptocurrency and stock markets in an interview with CNBC on Wednesday. Walthour has more than 25 years of experience in capital markets, traditional and alternative asset management.
“At this stage, we have to remember how it all started,” he began. “When we think about our lives, we start buying things with cash, and then some people come up with the idea of ??using checks, then some people come up with the idea of ??using plastic, and then some people come up with the idea of ??using plastic. The idea of ??electronic payment . And I think the use of cryptocurrency, the whole concept of the wallet, is where we are going. And I think that in terms of the adoption rate in the next 5 to 10 years, this bodes well for the overall encryption.”
He emphasized that many companies now accept cryptocurrency as a payment method. He said:
I think it is wrong to ignore this asset class that has looked like the Wild West for the past 5 years or so.
He added: “But if we see the U.S. stock market stagnating and cryptocurrencies rising, I think the herd mentality might take over here, and you might see a lot of liquidity flowing from stocks into cryptocurrencies.”
Walthour further believes: “If cryptocurrency outperforms stocks, I think from a diversification perspective, it legitimizes cryptocurrency as an asset class.”
He acknowledged that when stocks sell off, cryptocurrencies may fall further due to higher volatility, but he said: “I don’t think this will necessarily continue into the foreseeable future.” He concluded:
Given the massive sell-off of cryptocurrency in the last quarter, my prediction for the foreseeable future is that it is indeed very likely to outperform the stock market in 2022.
Do you agree with Walther? Please let us know in the comments section below.
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