Cryptocurrency (Mar 10, 2021 05:30AM ET)
Gerber Kawasaki jumps on Bitcoin train, hints on upcoming investments
Gerber Kawasaki, a billion-dollar asset management firm, has revealed that it will start buying Bitcoin for its clients.
CEO Ross Gerber made the revelation during an interview, stating that it was time to explore the huge opportunities that digital assets present. He said:
If I don’t offer this to my clients, in essence, I’m taking away an opportunity that could be incredibly lucrative.
Gerber further opined that the crypto market is similar to stocks and that he is willing to go through the headache.
Just like how I go out of my way to buy these annoyingly difficult stocks to buy like cannabis right now, that trade in Canada, and I have to deal with all this crap just to buy a stock. But I know the opportunity of these companies, so I go through the headache to do it, just like I’m going through the headache now to launch a program for crypto.
Commenting on Bitcoin, he dismissed claims that the leading cryptocurrency stood no chance of becoming a store of value.
So, gold isn’t as volatile, because it has a 5,000-year experience of having so many people own gold… But this is like Year 10 for Bitcoin.
Gerber Kawasaki is not the only institutional player with plans to explore crypto offerings. As reported by BTC PEERS, Norwegian oil giant, Aker, recently announced the launch of its crypto-investment arm Seetee. As per the announcement, Seetee will invest in several blockchain-based projects throughout the crypto industry.