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CEO of Mutual Fund Giants: Digital currencies are still in their infancy


With the digital currency market valued at $ 2 trillion and the IPO of Quinn Base, some believe the digital currency industry is already in its infancy. However, the CEO of the famous investment fund does not think so.

to the the report Digital currencies still have a long way to go, says Bill Stromberg, CEO of T.Row Price Group, an investment fund. In a recent interview with Baltimore Business magazine, Stromberg stated that there is still a long way to go before digital currencies reach their full potential; But the industry is growing very fast.

He said about this:

The digital currency industry is really, really in its infancy. Of course, I believe that this industry is growing very fast; But it still takes years for digital currencies to reach their full potential.

He also said that he was waiting for this upward trend after the terrible downtrend that we witnessed. According to him, we are currently witnessing an economic recovery and companies are benefiting from this situation. “Stromberg says in this regard:

We are still in the middle of this process. This upward trend has been going on for about a year and time will tell a lot about it.

Finally, Stromberg referred to “target buyers” or “specs” (SPACs) and speculation in this area. According to him, specs will not disappear and their popularity will continue (spec is a company that has no specific business activity and is established only for the purpose of public offering on the stock exchange and raising capital. Kurdish companies are looking to buy private companies, so that these private companies will also go public without going through the public offering process and the cost of advertising (this method has become very popular in recent months and has found its place on Wall Street). .

According to him:

The popularity of specs is not going to go away and will continue. In recent days, their fever has decreased a little; Of course, this is due to the emotional and rapid start that these companies had.

Tiro Price Group, based in Baltimore, USA, has managed $ 1.46 trillion since Jan. 31.

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