Ex-Goldman Exec Sees Better Days Ahead for Crypto as Institution-Focused Crypto Brokerage Launches
December 18 2018 - 12:02PM
ADVFN Crypto NewsWire
Despite the price declines that cryptocurrencies have endured
this year, an ex-Goldman Sachs executive is still
optimistic about the future of digital assets.
Greg Tusar, who is a former global head of electronic trading at
the New York-based financial giant, likened the current state of
the crypto market to the ‘early days of trading equities
electronically’, according to Bloomberg.
Consequently, Tusar sees huge opportunities for entrepreneurs in
the space:
“It’s early stage, there’s a lot of opportunity to build great
businesses and have impact.”
Evidently, Tusar has taken his own advice and is the co-founder
of Tagomi Holdings, a live electronic crypto brokerage which
launched recently. The startup has received the backing of among
others Founders Fund, a venture capital firm that counts
billionaire Peter Thiel among its key people.
Institutional Investors
According to Tusar, who doubles
up as the startup’s chief technology officer, the live electronic
crypto brokerage will offer sophisticated execution and
transparency that wealth management firms and top family offices
require in order for them to invest in digital assets:
“Tagomi applies proven electronic trading solutions that these
sophisticated investors have come to expect, and removes the
operational hurdles commonly associated with digital asset
investing.”
Tusar is not alone in expressing optimism for cryptocurrencies
despite the bearish conditions. Earlier this month, the CEO of
Circle Jeremy Allaire predicted that the prices of
cryptocurrencies will rocket in the next 36
months.
While he didn’t mention a specific price for bitcoin, Allaire
revealed that he was betting for the price to go up:
“I don’t make significant price predictions. But it’s certainly
going to be worth a great deal more than it’s worth today. I am
long in the market.”
Growing Adoption
Another perennial optimist has been the
founder of Fundstrat Global Advisors, Tom Lee, who recently argued
that the current prices for cryptocurrencies were unjustified as
the adoption had greatly increased with the number of crypto
wallets having risen dramatically.
Last month, the chief executive of cryptocurrency investment
firm Galaxy Digital, Mike Novogratz, also
expressed optimism about the future of the space. While giving his
price prediction for bitcoin, Novogratz stated that the next rally
will be driven by institutional
investors:
“There’s going to be a case of institutional FOMO [fear of
missing out], just like there was in retail.”
Founders of the Gemini cryptocurrency exchange,
Cameron and Tyler Winklevoss are the other big names in crypto who
see better days ahead. The twins have gone on to back their views
by continuing to release new products amidst the
bearish conditions including a mobile app for their Gemini
crypto exchange saying that “We think it’s a space that’s here to
stay.”
Source:
CCN
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