The president of IMC says the cryptocurrency industry “will have profound effects” in finance.
Cryptocurrencies are here to stay, says the CEO of the investment arm of Columbia University, in an interview with Bloomberg Wealth.
What is the role of cryptocurrency?
In a interview at Bloomberg Wealth, Lew gives his views on the potential for investing in cryptocurrency and the many possible directions in which the burgeoning industry may be heading.
“There are many different paths he can take. There are stablecoins, there are NFTs… there’s just the blockchain, the different layers – people are using it for so many different things. ”
Despite its many possibilities, the specific niche that cryptospace will fill is still a mystery.
“I think it’s clearly here to stay, I think it’s clearly going to play some role … it’s not clear what role it’s going to play. For us, it’s important to tweak a little bit, just to make sure we go along, make sure we have relationships with people who will develop experience and we can leverage that experience to decide which way to go. ”
- Cryptocurrencies are here to stay, says the CEO of Columbia University’s investment arm.
That said, Lew is playing it safe with his investments in IMC for now, staying away from the cryptoactive market.”volatile”.
You know there’s a lot of volatility, there’s a lot of risk, which isn’t necessarily something we’re being paid for right now … but we certainly have the ability – because we’re long-term investors – to explore new avenues. And then cryptocurrency is one of them.
Institutional investment in cryptoactives
BMI is described as “a wholly owned subsidiary of Columbia University”, with the task of dealing with the University’s managed assets. Therefore, Lew’s words signal a form of investment interest from the institutional academic world – not just from the business world.
While Elon Musk and Michael Saylor are willing to fill their portfolios with Bitcoin from the start, despite the risks, more conservative investors like Kim Lew and IMC may be willing to diversify into cryptocurrency as the industry plays a clearer role in society .