Christopher Matta, former vice president of investment management at Goldman Sachs, still claims that he would invest his family in Bitcoin. In the interview, he also noted that he expects Bitcoin to grow to $ 15,000 this year.
The co-founder of Crescent Crypto Asset Management stated in the CNBC program "Fast Money" in June this year that even for the most conservative investor, the income from risk-adjusted crypto-cash is good compared to other asset classes, even considering volatility.
After this interview Bitcoin fell by 7%, but Mata said that he still believes in cryptocurrency and advises people to remain calm. He also noted that this is a long-term investment. Last Thursday in the Fast Money program, he said that there was a short-term volatility of the Bitcoin price. He recommends that people invest in crypto currency for a period of two to five years.
The bullish sentiment hasn’t changed over the last six months,” he said. “Regulators have started to step in. We think that more smart regulations can be good.”
“If you’re bullish for the long term, $6,000 is a decent entry point,” he said.
Asked if the introduction of Bitcoin futures has affected bitcoin’s volatility, Matta said volatility has continued at a heightened level. He said it has been hard to determine if the futures have impacted volatility.
“I don’t think there’s necessarily causation there,” he said.
He believes that periods of falling prices have occurred before. In the long term, infrastructure will continue to evolve. This will stimulate retail trade, as well as the entry of institutional investors into the industry. He said that in the future, products like ETF will increase access to this asset class. Asked whether he expects new users to join the industry, Mutta replied in the affirmative.
The prediction of the former top manager of Goldman Sachs is one of the latest predictions of the cost of Bitcoin made by industry experts. For example, according to Arthur Hayes, co-founder and CEO of Bitmex, the price of the first crypto currency this year could reach $ 50,000.