- Anastasia Amoroso explains why Bitcoin recently crashed.
- She sees the world’s largest cryptocurrency as a technology asset.
- Bitcoin is currently up about 80% since the beginning of the year.
Bitcoin Continues Crash Since Federal Reserve Policy postponed rate hike First time since March 2022.
Anastasia Amoroso Shares Her Views on BTC
Another potential reason for the recent popularity of cryptocurrencies is that we are nearing the end of a cycle in which central banks typically tend to focus on risk-on assets.
Most importantly, according to Anastasia Amoroso, Chief Investment Strategist at iCapital, the recent strength is proof that the cryptocurrency ecosystem has stood the test of time.
“The fact that institutional investors are still entering the space and bitcoin shows that this is the asset class that is most likely to survive.”
Earlier this week, Fed Chairman Jerome Powell also agreed that cryptocurrencies appear to have some staying power (read more).
Anastasia Amoroso sees Bitcoin as a technology asset
Bitcoin soared despite the US Securities and Exchange Commission suing both Binance and Binance. coin base this month.
Part of the reason may be that none of these lawsuits classified it as a security. Rather, investing in bitcoin is more like adding a skyrocketing tech stock to your portfolio, Amoroso added. Yahoo Finance Live.
Bitcoin has a technical side. But there’s also the volatility that comes with it, and it’s more like overpriced, high-beta tech stocks than anything else.
She also said on Thursday that the recent regulatory crackdown is indeed positive for the cryptocurrency market in the long run.