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The broker’s point of view: “For an investor not to have a bitcoin portfolio is a bigger risk than to have”

The founder of the brokerage company Exante Alexey Kirienko believesthat bitcoin will survive traditional banking, and sure in the inevitability of the global economic crisis.

According to Kiriyenko, his company is involved in cryptocurrency since 2012. He said:

“We created the world’s first Fund, which is buying bitcoins. We bought another bitcoin for $13. It was a simple analysis of supply and demand. We saw fundamental data, how the growing interest in the product. And I realized that there is guaranteed growth.

We made two very successful trades on own means: when we bought (bitcoin) for $13 and sold already in the neighborhood of $800-1000, and the second time when bitcoin fell to $150, and we, respectively, were partially bought and sold it already above $10 000. And we believe that this asset will live, it will not go away and will be with us longer than many banks.”

To the question what he thinks about the judgment of a leading American economist Nouriel Roubini, who calls cryptocurrency Scam, Kiriyenko replied:

“I disagree, of course, at the root of it. This software is open source. And the Scam must be someone who gains some profit, ruining others. (…) Hundreds of hedge funds are buying bitcoin. I’m not talking about other cryptocurrencies, or the more ICO projects. We’re talking strictly about bitcoin, which has the futures instruments on the Chicago stock exchange, which plans to launch the adjustable options at the beginning of next year, and every year invests more and more hedge funds are already two hundred exceeded their number. So I think that it is not Scam. (…) Many investors do not have a bitcoin portfolio is a bigger risk than to have it. You need (to have) at least 3%.

Now in the modern world there are risks that were previously absent. In connection with the geopolitical conflicts due to the fact that some of your activities that you now think is absolutely correct, lawful, in some moment may seem to some to be improper or illegal. And then your account will be instantly frozen, and the money that you think its will be not really your own. And bitcoin is the only asset that can not be by judicial decision or by someone’s will freeze. You can keep your private key in the head, and he will be with you when crossing any border.

Bitcoin is completely liquid in any country in the world – in Switzerland, Austria, Japan, for example. Now the world is more than 6,000 ATMs that will give you the cache for bitcoin. There are already dozens of providers of Visa and Mastercard, which allow you to refill them with bitcoin. This is what is called real hedge, you know. Let it be a 3% (of the portfolio)”.

According to Kiriyenko, his ten year old son for a couple of years mines on the card – “this hobby”. The businessman said:

“Yeah, he amassed money, he did not spend. Asked: “Dad, what do you think, what would I buy?” And it was may, I think, 2017. Then the profitability of mining that we knew was 100% in a month. I said, “If you want to multiply your money, buy a video card, just quickly.” And he managed to buy it when it’s in Moscow it was possible to get, because after a few weeks they just disappeared. Accordingly, he bought this card and several times it managed to recoup”.

Commenting on the prospect of the onset of the global economic crisis, the head of the Exante said:

“Probably after the fed started to cut rates, I pushed away his inner feeling, when the crisis comes. Of course he’ll come, where did he go? I think I underestimated the history of trade conflicts of China and the United States. Because the United States is now a very difficult period, they push back with their designated leader, where they used to be more than 70 years. Yes, 70 years it was the number one economy. Now it has ceased to be. The number one economy now is China. And this gap will increase. And by 2030 the US will become the number three economy. And this is a whole new world we haven’t seen, and crises about which we know nothing”.
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