Cryptocurrency impact yet to be felt, after being around for over a decade-Stromberg

Cryptocurrency impact yet to be felt

The CEO of mainstream investment management outfit,  T.Rowe Price, in the person of William Stromberg,  is of the opinion that though the crypto industry has been around for than a decade, it sea leg is yet to be found. Which means it is not yet strong.

When Stromberg, was asked if he is interested in cryptocurrency investment, in the early days of cryptocurrency, he opined that they are still doing their research about the digital asset world and that many companies are putting together products where crypto-related currencies can be bought and owned.

As regards to Stromberg, the crypto-free strategy is working for him and as for T.Rowe Price, the quarter of last year was a top-notch forf him, because in assets under management, the firm reached $1.52 trillion and which the profit of the frim got to over 100%.

A number of avenues exist for investing directly in cryptocurrencies. A growing number of avenues also exist for exposure to crypto assets via traditional financial products as well, although the opportunities are not as diverse, as opposed to interacting directly with specific cryptocurrencies.

The Chicago Mercantile Exchange, or CME, offers Bitcoin (BTC) futures and options trading, as well as Ethereum (ETH) futures, for example. Among other crypto investment gateways, Grayscale also offers a variety of mainstream crypto investment vehicles.

“It really truly is early, early days here so I would expect this to move at a good pace but take years to really unfold,” Stromberg added in his response to the Baltimore Business Journal’s question on crypto.

Stromberg’s crypto comments came after the CEO discussed the overall financial landscape of American markets, for which he sees a positive future. “We are very bullish on the economy and the growth of the economy as it reopens and that reopening broadens,” he told the Baltimore Business Journal.

Be the first to comment

Leave a Reply

Your email address will not be published.