Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Jacob Walthour, the chief executive officer of the Seattle-based Blueprint Capital investment company that deals with real estate and land, has told CNBC's Joe Kernen during the Squawk Box show talk today that it may be a mistake to ignore cryptocurrencies as an asset class now.
He also outlined a scenario in which a large amount of liquidity may start flowing into the crypto space from investors.
"I'm very constructive on crypto"
Jacob Walthour admitted that he is "very constructive" on crypto. He reckons it a mistake to ignore cryptocurrencies now, which looked, as he put it, like the wild west five years ago or so. The reason is that over the past 12 years, its adoption has expanded greatly, and BTC is now accepted by business giants that work in the retail market. He named Starbucks, AT&T and PayPal, which adopted Bitcoin and other crypto last year for their customers.
Besides, Walthour reminded the CNBC host that now there are over 200 exchanges globally that enable users to trade crypto, and around 14% of the U.S. population has invested in digital currencies.
The Blueprint Capital chief added cryptocurrencies to the evolution chain of money: First it was cash, he stated, then someone came up with the idea to use checks and plastic cards for payment. He believes that within the next five to ten years, crypto may well be built into the system of everyday payments globally as the next link in this chain of money evolution.
"I think it'd be a mistake to ignore this asset class which has looked like the wild west for the last 5 or so years," says Blueprint Capital's @JacobWalthour. "But if we see a stall in the U.S. equity market and a rise in #crypto, I think herd mentality could take over here." pic.twitter.com/4PEcA8qBo8
— Squawk Box (@SquawkCNBC) December 29, 2021
This is when liquidity may flow in crypto space: Walthour
As for crypto getting stronger as an investment asset, Jacob Walthour believes that if we should see a stall in the U.S. equities market, then the mentality may turn positive toward crypto and, in this case, liquidity will also start flowing from equities to digital currencies.
Crypto cannot solve financial inequality: Sen. Warren
The Democratic senator from the state of Massachusetts, who is "at war" with Elon Musk over his taxes this year, has stated in her recent tweet that cryptocurrencies are unable to solve the global issue of financial inequality.
She reminded her Twitter followers that only 1% of Bitcoin wallets hold the biggest amount of BTC, and in an even bigger proportion than the wealthiest hold the largest part of USD in circulation.
The senator believes that the U.S. government needs to come up with "real solutions" to make the financial system indeed work for everyone and not just for a tiny group of wealthy individuals.
Vladislav Sopov
Tomiwabold Olajide
Mushumir Butt
