Ex-Blackrock investment advisor: I can compare crypto to the dot com era

Bitcoin is becoming more and more popular. Despite the decline in recent months, there are still many big names in the investment world advocating for bitcoin. This includes investment advisor and former Blackrock executive Edward Dowd where he recently told a podcast that bitcoin is here to stay.

- Advertisement -

Bitcoin as a store of value

“Bitcoin has the qualities to make it into anyone’s portfolio,” Dowd told Layah Heilpern’s podcast. “Once bitcoin matures, it will probably beat gold because of unique characteristics, such as the ability to be traded digitally.”

Gold, he says, is still a good “viable” investment, but bitcoin would pay off perfectly as a “store of value. By this he means that bitcoin is a good store for your funds, which are likely to become more valuable in the future.

Gold is harder to sell

“Bitcoin is here to stay,” Dowd said. He talks about gold in the conversation with Heilpern, and the disadvantages it has over the largest crypto currency. “At least with bitcoin you can redeem it digitally, and gold to me is a much more difficult sell.”

And even though this makes it seem like he doesn’t think highly of gold, he does stress that he’s not against it. “Having some gold is not a bad idea,” he told us.

Crypto compared to the dotcom bubble

The investment adviser also said that as the crypto sector matures, Bitcoin will likely stand out from the rest of the market. According to him, most crypto currencies will collapse, while the stronger ones will survive. Right; exactly like with the dotcom era.

“I can compare crypto to the dot com era where 90% of those companies went to zero. 10% of them became Amazon. It’s the job of the crypto people to figure out what the ‘Amazon crypto’ is. I think bitcoin is clearly in the running.”

- Advertisement -

Moreover, the investment adviser maintained that bitcoin’s growth would be led by transparency, freedom and technology. These are core qualities of bitcoin that Dowd believes make it better than a central bank.

Previous Articles:

- Advertisement -

Latest

Michael Saylor Invites Joe Rogan to Discuss Bitcoin on Podcast

Michael Saylor has shown interest in discussing Bitcoin on The Joe Rogan Experience podcast.The idea has generated excitement in the Bitcoin community, with some...

Congress Debates Stablecoin Bill Amid Rising Bank and Crypto Tensions

U.S. lawmakers are moving forward with the Senate Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, with debates set to resume after...

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

South Korea Election Puts Crypto Policy at Center of Debate

Nearly one-third of South Koreans hold digital assets, making crypto a vital issue in the upcoming presidential election.Both major parties support crypto exchange-traded funds...

Must Read

9 Best Books On Ethereum And Blockchain Technology (Beginners And Advanced Readers)

Ethereum is a complex topic, and it can be difficult to know where to start learning about it.Even for people who are familiar with...