On Tuesday, December 18, the market remains mostly green, especially on the top-10 list and slightly on the top-20 one. Still, the CEO and co-founder of the Lisk (LSK) platform, Max Kordek, seems to feel the coming crypto winter, like some animals can feel a hurricane well before it arrives.
In a new LiskNow episode, he speaks of the new financial strategy that the company is going to head toward to protect itself from the bad times the market seems to be in for. Seeing the bears’ dominance over the market throughout 2018, Lisk intends to diversify its financial portfolio in what seems to be slightly anti-crypto manner.
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In the brief video on Twitter, Mr. Kordek explains that in order to secure the platform’s future and defend it from the current volatile market, Lisk is going to change their financial portfolio with the goal to “strike a perfect balance between stable and volatile assets”.
So as of next week, the startup intends to gradually convert part of their holdings in Bitcoin and altcoins into Swiss Francs (CHF) – the fiat currency which is considered one of the most stable ones in the market and is often used as a safe haven.
Today, we've begun implementing our new financial strategy for the #Lisk Foundation. Watch the most recent #LiskNow to hear @MaxKordek explain our plans for the future. pic.twitter.com/NBUTpG0nqc
— Lisk (@LiskHQ) December 18, 2018
By doing so, Kordek explains, the company is “hedging against the current downside risks of the cryptocurrency market, without removing its future upside potential”.
Kordek assures that the company will keep 3,000 Bitcoins and that they are not going to sell off any of the 7 mln LSK tokens they are holding. A fiat addition to that will be 12 mln CHF that they are going to convert their BTC into.
This move, says Kordek, will ensure financial stability for the company, let it finish developing and finally deliver the crypto application app they are presently working on.
Lisk intends to join the bears
It seems that the creators of the LSK coin, which is currently occupying position #35 on the top-50 coins list and is trading at $1.27, are going to join the ranks of crypto bears and start selling off their BTC in order to buy a good old fiat and safe haven asset – the Swiss Franc.
Perhaps it is worth sacrificing the major idea of crypto a bit in order to ensure a safe future for one’s own little crypto platform by actually supporting centralized fiat assets and buying the currency of the country with the most stable banking system in the world.
Vladislav Sopov
Dan Burgin