Starting a crypto business is a difficult journey and not for the faint of heart. But according to Stephen Ehrlich, co-founder and CEO of Voyager Digital, patience is key, and the rewards will come in the long run.
Many have invested time and money in developing a cryptocurrency-related business. Reports describing 2021 show that more than $30 billion in investment has come from venture capital. Erlich told Cointelegraph that these enterprising investors and private companies will certainly be rewarded in the long run for their faith in cryptocurrency. In addition, he also believes that investors in public companies will also reap the benefits.
“Bitcoin has outperformed every major asset class in 2021, the once high prices of crude oil, the Nasdaq, the S&P 500 and gold. In addition, the number of “dealers” has a positive trend, indicating the viability of the cryptocurrency. .”
The co-founder of said cryptocurrency exchange also notes that the overall growth of the cryptocurrency ecosystem is manifested in the introduction of benefits programs that allow companies to allow employees to receive part of their salary in bitcoin (BTC).
“Such a massive adoption is an incredible sign – people are not only willing to buy and trade cryptocurrencies, but also willing to work towards it. As a society, we are moving forward in a direction that gives more value to cryptocurrencies.”
When asked if it is profitable to run a cryptocurrency business, Erlich happily shared his own experience in his company. “Voyager’s last quarter was our best quarter ever, so I definitely feel like I had a great time working on crypto,” he said.
Ehrlich also believes that with global inflation rising to new levels and US government debt rising, “digital currencies are becoming more and more of a safe haven for future generations.”
One of the main advantages of cryptocurrencies is that they create economic equality. The Voyager CEO confirms that the cryptocurrency provides access to segments of investors that missed out on previous booms. Ehrlich describes the ability to deliver value-creating opportunities in the sector as “extremely satisfactory” as he points to the huge advantages that exist in the industry.
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While there are many good things, there are also challenges for crypto companies. One such policy is cryptographic rules and guidelines. However, according to Erlich, most of the difficulties the industry faces are a direct consequence of its success. Note:
“By developing a broader and more comprehensive regulatory infrastructure specifically for digital assets, the cryptocurrency industry can thrive.”