Although the crypto space has been around for over a decade, William Stromberg, CEO of the conventional investment management firm T.
“These are the early days,” Stromberg said in an interview with the Baltimore Business Journal when asked if “T-Row Price will start investing in cryptocurrencies.”
“We have research on this topic,” added the CEO. “Some companies, very few, have tried to package products in which they could buy and own cryptocurrencies.”
So far, a strategy without cryptography has been working with Stromberg. The first quarter of this year was a big deal for T. Rowe Price. According to a Baltimore Business Journal article, the company sold $ 1.52 trillion in assets under management and increased profits by more than 100%.
There are several ways to invest directly in cryptocurrencies. There are also more and more opportunities to access cryptocurrencies through traditional financial products, although the possibilities are not so different, in contrast to direct interaction with specific cryptocurrencies.
The Chicago Mercantile Exchange, or CME, offers trading in bitcoin (BTC) futures and options, as well as, for example, Ethereum (ETH) futures. Among other cryptocurrency investment portals, Grayscale also offers a number of dominant cryptocurrency investing tools.
“It’s very early and early here, so I expect this to develop at a good pace, but it will take several years to turn around,” Stromberg added in response to Baltimore Business Journal’s questions about cryptocurrencies.
Stromberg’s comments on cryptocurrencies came after the CEO discussed the overall economic outlook for the US markets, which he sees in a positive future. “We are very optimistic about the economy and the growth in discoveries and discoveries,” he told the Baltimore Business Journal.
While cryptocurrencies are generally not technically associated with a specific region or government, it can be said that the price movement could be influenced by certain events based on the price crash that Bitcoin suffered in March 2020 due to COVID-19 fears, but there are some disagreement about this.