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How’s it going, everyone? We’ve got asked a lot recently about it, so here’s Dan Young and I’s breakdown of the current crypto market. In 2014, Dan Young had the largest mining facility in Utah, and he’s been Intel’s board of advisors for 16 years!
Here’s our interview highlights… (click here to watch it on YouTube)
Supply & Demand
Bridger: Currently, Dan and I currently run Ugly Unicorn, a hedge fund in the crypto space.
There are 11 ETFs that have been launched and we have an Ethereum ETF coming soon! Dan, give us a quick scope of the current market.
Dan: The emotional anticipation for the ETF caused a big rise in general for crypto values. ‘Halving’ is starting in April, which makes it twice as hard to mine a Bitcoin. Halving is a process where the supply of Bitcoin is halved every four years. This makes the demand for Bitcoin even higher, which is why the Bitcoin ETF is the 2nd largest ETF out there, right under Gold!
Good Research
Bridger: How do you go about doing research on alternative coins to invest in?
Dan: We look at crypto as a software each coin is an ecosystem. So, find good ecosystems that people are building that has good underlying technology – it should actually be benefiting the companies that are building upon it. If you want a shortcut, you can visit coingecko.com which is a list of every crypto out there. Each crypto has a link to all their white papers, projects, business plans, and more! It’s a great place to study.
Handle With Care
Bridger: So, how should we go about handling crypto if it’s not invested with an institution?
Dan: Here are some good rules to follow:
- Don’t have all you crypto on your phone. You should have a dedicated computer for it that you’re not always lugging around with you.
- Avoid using public wifi on that computer. If you must, then ise a VPN like NordVPN so that you have some type of encryption.
- If you have Coinbase, make sure you have a “white list delay” or Google Authenticator.
Bridger: How do you see companies working with crypto and other technologies?
Dan: American Express, Chase, Visa, and a majority of the other Fortune 500 companies are now building some type of blockchain material on their back end to service payments inside their system. In my opinion, if other companies don’t develop and adopt this, they’re going to be left behind.
Conclusion
So, that’s what Dan and I had to say about the current crypto market! Check out my YouTube channel to stay updated on crypto content!
Or, visit Fund Launch to get help starting your own hedge fund!
Thanks for stopping by,
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DISCLAIMER: This content is for educational and informational purposes only. It is not to be taken as tax, financial, or legal advice. You should always consult a legal professional before taking action. Furthermore, this is not a recommendation to buy or sell any security. The content is solely just the opinion of the authors.
