The CEO of investment house gateway Partners, is turning away Bitcoin (BTC) and cryptocurrency in favor of a lot of traditional investment methods, Asia-focused business publication Nikkei Asian Review reported on January. 2.
Gateway Partners is an advisory and private equity company managed by Viswanathan Shankar, the previous director of standard chartered group. Over the course of 2019, the corporate is reportedly looking forward invest its 1st $757 million fund, and is working on deals within the United Arab Emirates, Saudi Arabia, and Egypt.
Shankar reportedly said that “we are for biscuits, not Bitcoins,” further explaining that his philosophy concentrates on "basic goods and services and also the middle class." in a recent interview with Nikkei.
Last year, Shankar reportedly warned against investment in cryptocurrency along with Argentina and Tesla, saying that they were “signs of irrational exuberance." Shankar additionally suggested investors to “steer clear” of “BAT” an acronym that stands for the 3 Chinese internet conglomerates Baidu, Alibaba group Holding and Tencent Holdings, Nikkei clarified.
Yesterday, venture capitalist and businessman Fred Wilson suggested that cryptocurrency won't be a secure haven in 2019 amid a “weakening” economy, though noting that “there will be signs of life in crypto land in 2019.” additionally, Wilson predicted that major problems with the world economy, like the trade war between the China and U. S., can create investors wary of the startup sector.
At the same time, Jameson Lopp — a crypto business figure and self-proclaimed skilled cypherpunk — represented Bitcoin as the initiative in a broader transition to an anarcho-capitalist society. “I believe that Bitcoin may be a terribly interesting experiment that if is successful in the long run couldn't only revolutionize cash, however revolutionize how we expect about governance,” Lopp stated.
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