In a conversation during the exchange conference in Las Vegas, which brought together around 2,000 investment advisers and asset managers, Dominic Rizzo, world technology portfolio manager at R. Rowe Price – the company that manages more than 1 billion of dollars of assets – said that it is the right time to have an exhibition in Bitcoin.
He compared the price of bitcoin to a commodity and how investors should think about investing. “Bitcoin himself exchanged very close to his average cost. So, if you think about it as a traditional goods, it is in fact historically a very good time to have an exhibition when it is close to its cost,” he said.
In the traditional investment of basic products, when the cost of mining or extraction of goods is close to the cash price, he often indicates that the price of the goods could have found the soil or has a limited drawback. This is something that investors who are against the tide are looking for in investment in basic products, because the lowering feeling could be evaluated when such an event occurs. Rizzo seems to refer to such a play dynamic for Bitcoin also if we compare the cycles of goods to the price of Bitcoin.
According to the Macromicro blog, the current average price of Bitcoin mining is around $ 84,770, while the cash price ranges nearly $ 87,000.
How to play the blockchain and the AI revolution
Rizzo also said that he considered blockchain and digital payments as an integral part of Fintech and artificial intelligence (AI).
“The world is becoming more global, we are going from money to digital payments … So I think that digital payments are really the link to move money at a lower cost and adopt a software approach on domains that have still not been focused on software,” said Rizzo.
He said that part of this movement is the blockchain, which he thinks that each investor should have a certain exposure to, whether by holding actions of companies like Coinbase (Coin) or Robinhood (Hood) or those of cryptographic minors benefiting from the evolution of AI.
