Ran NeuNer, the former host of CNBC’s popular Crypto Trader show, has said that Bitcoin (BTC) and other cryptocurrencies may no longer be considered a “bubble.”
NeuNer, the co-founder and CEO at Onchain Capital, a fund management business focused on helping investors gain exposure to digital assets, remarked (via Twitter):
Even if [crypto]was a bubble last year, I’ve never seen a bubble pop twice.
“Talk Of Cryptos Collapsing Is A Thing Of The Past”
NeuNer added that digital assets are here to stay and the “talk of” cryptocurrencies “collapsing are a thing of the past.” According to NeuNer’s assessment, “everyone knows” cryptos are on track to become a legitimate asset class.
He went on to suggest that CNBC should be “smarter in their selection of guests and articles.” Notably, NeuNer also retweeted a recently published article on CNBC which has been heavily criticized by members of the crypto community. The article, titled “Don’t Buy Bitcoin, Warns Wealth Manager,” has not been received well by those involved in the blockchain space because it seems to make inaccurate statements about cryptoassets.
For example, the article contains a quote from a financial analyst who states that “you get no income” from holding cryptocurrencies as they are “not real” investments. As those who’re following developments in the crypto industry would know, many traders and investors have now profited from investing in various initiatives in this space.
BlockFi, Nexo Allow Investors To Earn “Real Income”
Although not every business has been successful, several new crypto products have been introduced that allow investors to generate passive income from their investments. For instance, BlockFi has launched an initiative that allows investors to make deposits in major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). Investors receive up to 6.2% interest (per annum) on their deposits (subject to certain conditions).
This interest rate is significantly higher than what investors would earn from US Treasury Bonds and similar investments in the traditional financial sector. Other companies, such as Nexo, also allow users to participate in a crypto-related lending program. While both Nexoand BlockFi can still be considered startups, they are offering unique opportunities to investors.
Introducing A Technologically Advanced Crowdfunding Method
Additionally, crypto platforms such as Ethereum have allowed companies to launch crowdfunding campaigns by conducting initial coin offerings (ICOs). Although many of these were scams, ERC-20 tokens have introduced a new way of launching fundraisers for startups.
Wences Casares, a Bitcoin pioneer and the founder of Xapos, a leading crypto cold storage solution provider, has argued that it would still be irresponsible to not acknowledge that the digital asset and blockchain space is still in its early stages. Casares believes there still might be a chance that the crypto experiment could fail, however he believes the chances of it succeeding are far greater at this point.
Author: Omar Faridi