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Lisk (LSK) Announces Financial Strategy for 2019: Dropping Dodgy BTC, Grabbing Stable Fiat

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Tue, 12/18/2018 - 18:34
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  • Lisk (LSK) is about to implement a new financial strategy, described by CEO Max Kordek in a brief Twitter video, to protect assets from the volatile crypto market

Cover image via U.Today
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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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Drop crypto, grab fiat just to be on the safe side

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.

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.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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