The CEO of One River Asset Management says that the second-layer solutions built on top of crypto networks are “super promising.”
Bitcoin and other cryptocurrencies are “dramatically undervalued” meanwhile, the worldwide coronavirus pandemic has been a perfect “driver” for them to rise, says Eric Peters, the chief executive of One River Asset Management today.
“Digital assets are dramatically undervalued relative to some of these other stores of value,” said Peters, continuing, “That’s what makes us excited about these—it’s an undervalued asset for that macro backdrop.”
Peters elaborated that being a macro investor is his entire career; he formerly looks at macro indicators and not so much at the technical ones, however, even if the technology of cryptocurrencies “continually astounds us in terms of where it leads us.”
He said that One River has been anticipating “this late-cycle activity,” and the coronavirus pandemic has created an expression that is “in excess of what we or almost anyone would have imagined possible.”
One River had invested an undisclosed amount of funds in cryptocurrencies in early January, which very well might have been “one of the largest digital asset trades in history.”
As of now, Peters pointed out that holding digital assets permits investors to “align” themselves with macro trends.
For up-to-date Cryptocurrency, Blockchain, and Crypto-mining news, please join our Telegram Channel.