Crypto is still in its early stages says T. Rowe Price’s head

It’s been almost 10 years since crypto first arrived, but it is still a nascent market says T. Row e Price’s head. He thinks there is still time that the currency takes off and goes mainstream. William Stromberg said to the Baltimore Business Journal that it’s early days when he was asked whether they plan to invest in the currency. He also said that they are conducting research on the product and could soon invest in it.

T. Rowe crypto investment plans

Impact of crypto still years out, T. Rowe Price's head says By Cointelegraph

As of now, they say that only a few companies are giving products that one can buy with crypto. So, for now, the investment in the same might not be very viable. The company has already been doing great without any form of crypto investment, and it makes sense for them to shy away from the same. They managed to secure a 100% rise in profits and have already added $1.52 trillion assets under management.

Even though there are a variety of investment options like futures, spots, ETFs for crypto, it is unlikely that the firm will take it up as an investment. According to them, even though the growth rate of crypto is splendid, it’s still new and could take a lot of time to actually unlock the full potential. He also thinks that the markets are going to recover after the effect of COVID subsides and can actually give great returns.

Is it a good time to invest in cryptocurrency?

Though I am no financial advisor, seeing the current scenario of the US market, the rising inflation rates, and increasing prices of goods makes it absolutely a no-brainer that yes, it is a good time to invest in crypto. Some do say that the increase in the price of the cryptocurrency can be attributed to the fact that lockdown happened, and people found a new interest in the same. And that might be true. But if we look at it from another perspective, then the entire reason why crypto took off is the crumbling economy. So, it is completely how you perceive it. Me personally, I am betting 100% on its future.

What are your thoughts on the investment plans of T. Rowe in CEO has crypto? And do you think that the CEO’s vision is right on this one? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.

Also Read: Bitcoin miners generated $1.7 billion in revenue in April.