In a conversation at the Exchange Conference in Las Vegas, which has gathered about 2,000 investment advisors and asset administrators, Dominic Rizzo, Global Technology portfolio manager at R. Rowe Price, the company that manages more than $ 1 billion in assets, which says that it is now a good time to have exposure to Bitcoin.
He compared Bitcoin’s price to a product and how investors should think about investing in it. “Bitcoin itself has changed very close to its average cost of mine. So, if you think about it as a traditional product, that is historically a very good time to have exposure when it is close to its cost of mine,” he said.
In the traditional investment of basic products, when the mining cost or extracting a product is close to the spot price, often indicates that the price of the merchandise could have found the floor or have a limited disadvantage. This is something that opposite investors seek when they are invested in basic products, since the bearish feeling could have a price when such an event occurs. Rizzo seems to be referring to such a dynamic dynamic in the game for Bitcoin also if the basic products cycles are compared with the price of Bitcoin.
According to Macromicro Blog, the current average price of Bitcoin mining is around $ 84,770, while the spot price moves about $ 87,000.
How to play Blockchain and the AI revolution
Rizzo also said that he sees the Blockchain and digital payments as an integral part of Fintech and Artificial Intelligence (AI).
“The world is becoming more global, we are moving the cash to digital payments … so I think that digital payments are really in the link to move money at low price and adopt a software approach to the areas that historically have not been driven by software,” according to Rizzo.
He said that part of this movement is Blockchain, that he believes that all investors should have some exhibition, either with shares of companies such as Coinbase (Coin) or Robinhood (Hood) or those of cryptographic miners that benefit from the evolution of AI.
