The Blueprint Capital CEO Jacob Walthour told CNBC’s “Squawk Box” that ignoring crypto as an asset class “would be a mistake”
Major companies like Starbucks, PayPal, AT&T and AT&T accept cryptocurrency as a method of payment
He points out that 14% American adults hold cryptocurrencies. More Americans may consider crypto if the US stock market stagnates while cryptocurrencies rise.
The CEO of Blueprint Capital Advisors, a US-based asset management and alternative investment firm, Jacob Walthour, says cryptocurrency’s place as a financial innovation is a great plus to the sector.
Speaking to CNBC’s “Squawk Box” host Joe Kernen on Wednesday, Walthour said that crypto’s growth over the last five years has been huge, despite its Wild West outlook at the time.
According to the investment manager, crypto provides an opportunity for investors, noting that his view of the market is “very constructive” and not informed by the fear of missing out, or FOMO as it is popularly known.
He believes that looking at crypto in this way is the best way to see it. He points to Bitcoin’s launch almost 12 years ago and says its growth over this period has been immense.
Blueprint Capital CEO said that currently, there are more than 200 exchange platforms that accept Bitcoin. Additionally, over 14% American adults have cryptocurrencies.
Cash to check, card, e-payments and crypto
Walthour’s bullish outlook for cryptocurrencies also traces just how far the financial system has changed with innovation after innovation. According to Walthour, there are many ways to pay for goods. These include cash, check, credit, debit cards, and e-wallets. He pointed out that Crypto is the most recent innovation in this area of money evolution.
“I think that the use of crypto, to the whole concept of a wallet, is kind of “where do we go from here?” and [I think] that bodes well for crypto overall in terms of its adoption rate over the next five to ten years,” he added.
Cryptocurrency should be considered an asset class that you do not want to miss
He then outlined how Bitcoin and other cryptocurrencies have increasingly been accepted as payment methods at some of the world’s leading companies and businesses. He cites as examples major players such names as Starbucks, PayPal and AT&T.
Walthour cautions investors that it is likely to be a mistake to disregard crypto assets as an investment class. He adds that should a scenario arise where crypto outperforms the US equity market, then a “herd mentality” is possible, resulting in a lot of capital flowing from equities into crypto assets.
He also believes that digital coins outperforming equities adds legitimacy to the idea that “crypto is an asset class from the diversification point of view.”
Blueprint Capital’s Managing Director, Blueprint Capital, said that “I think it’d have been a mistake to overlook this asset class which had looked like the wild West for the last five or so years.” @JacobWalthour. “But, if we see a stall on the U.S. Equity market and a rise #crypto“I believe that the herd mentality might take over here.” pic.twitter.com/4PEcA8qBo8
— Squawk Box (@SquawkCNBC) December 29, 2021
An Arcane Research report publishedThis week, Bitcoin has outperformed S&P 500 in the last three years. With 2021 becoming the fourth year, the crypto is up more than 73% year-to date compared to 27% for stock market index.
Arcane also predicts Bitcoin will outperform S&P 500 in 2022, with Fundstrat Global Advisors’ Tom Lee predictingA 11% jump in the stock market index over next year.