Bitcoin Is a Hedge and its Volatility Attracts Investors, Says SEEK Co-Founder
Matt Rockman – one of the founders of the Australian human resource consulting company SEEK Ltd. – opined that people should not ignore cryptocurrencies’ merits but educate themselves on the matter. He believes the volatility and risks in the field actually make the asset class more tempting to investors.
Bitcoin’s Unpredictability Makes it Attractive
In a recent interview for The Sydney Morning Herald, the Australian investor and tech entrepreneur – Matt Rockman – stated that virtual assets could be a useful financial instrument to cope with the “crazy times” caused by central banks’ mass printing. He added that cryptocurrencies are a substitute for gold.
Many prominent names consider investing in the digital asset market a risky endeavor due to its unpredictability and lack of regulation. For example, Jake Klein – CEO of the gold mining firm Evolution Mining – recently argued that bitcoin’s volatile nature would lead investors back to the precious metal.
In his turn, Paul Krugman – Nobel Prize winner – believes that cryptocurrencies are a “long-running Ponzi scheme” that can last for the next decades.
Rockman, though, has a completely different view on the matter. He said volatility, government oversight, and danger are factors that catch the attention of investors. Speaking of bitcoin, the Australian categorized it as both exciting and terrifying, just like “any good technology should be:”
“I think every serious investor should start to try and get their head around crypto in a sensible fashion and educate themselves. I don’t think it’s going away.”
Matt Rockman, Source: International Speakers
The Canadian TV personality – Kevin O’Leary – has the same opinion. Last week, during an exclusive interview with CryptoPotato, Mr. Wonderful argued that none of the large institutions are scared of volatility – on the contrary, “they want to play.”
Crypto Looks Like The Internet in The Early 90s
Mr. Rockman continued by making an intriguing comparison between cryptocurrency technology and the Internet. He believes digital assets are right where the global network was in the early 90s:
“It’s a wildly fantastic sort of technology, and I think years from now we’re going to see a lot more use cases for it. It feels very much like the Internet in the early nineties.”
SEEK’s co-founder admitted that he himself is a cryptocurrency investor. Having allocated around 3% of his portfolio in the market, Rockman’s investment is split 50/50 between Bitcoin and Ethereum. Interestingly, he’s also spent some insignificant amount on the meme-inspired virtual asset Dogecoin.
Asked about further regulations in the field, Rockman welcomed such an idea. Governments could try to impose proper legislation on the industry, but eventually, cryptocurrencies will self-regulate.