Anastasia Amoroso, Chief Investment Strategist of iCapital, a leading provider of financial services, has shared her views on Bitcoin (BTC) and why it has been on the rise recently.
She sees the world’s largest cryptocurrency as a technology asset. The current rate of growth is approximately 80% higher than the beginning of the year, and the Federal Reserve cycle is nearing its end, which usually draws interest in risky assets.
Amoroso believes that the institutional investors who have stepped into the space indicate that the asset class is “most likely here to stay.” Earlier this week, Fed Chair Jerome Powell also spoke positively about Bitcoin, indicating that it had certain staying power.
Amoroso believes that Bitcoin is a technology asset, as well as a volatile one, which is more in line with a high-flying, high-beta tech stock than anything else. The recent regulatory crackdown was deemed a positive net for the crypto market in the long term.
Investing in Bitcoin is similar to adding a high-flying tech stock to a portfolio. Amoroso shared her views on Yahoo Finance Live this month.
