Crypto Businesses will be Rewarded Over The Long Term, Says Voyager CEO
Cryptocurrency
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
Types of Cryptocurrency
Crypto can be classified into different categories, like DeFi, NFT, utility tokens, store of value tokens like bitcoin and litecoin, and yield farming tokens like Aave,” says Sidharth Sogani, CEO of Crebaco, a crypto research firm.
NEWS
Running crypto businesses is a difficult journey that is not for the faint of heart. However, according to Stephen Ehrlich, the co-founder, and CEO of Voyager Digital, patience is the key, and the rewards will come in the long run.” Crypto is becoming more and more of a long-term haven for future generations,” says Voyager Digital CEO Stephen Ehrlich.
Investment in Crypto Business
Many have invested time and money in developing crypto-related businesses. Reports detailing 2021 show that over $30 billion worth of investments flowed from venture capitals. Ehrlich told Cointelegraph that these VCs and private companies would be rewarded long-term for their faith in crypto. Moreover, he also believes that investors in public companies will also reap rewards.
“In 2021, Bitcoin outperformed all major asset classes, one-upping crude oil, NASDAQ, the S&P 500, and gold. Moreover, the number of ‘hodlers’ is trending in a positive direction, signalling crypto’s long-term viability.”
Crypto Trading Platform
The co-founder of the publicly-traded crypto trading platform also notes that the overall growth of the crypto ecosystem manifests in the introduction of benefit programs that allow companies to let employees take a portion of their paychecks in Bitcoin (BTC).
“Such mainstream adoption is an incredible sign – not only are people willing to buy and trade crypto, but they’re also willing to work for it. As a society, we are progressing in a direction that puts more store of value in cryptocurrencies.”
Cryptocurrency: As a Long Term Profit for Future Generation
When asked if running crypto businesses is profitable, Ehrlich gladly shared his own experience within his company. “Voyager’s most recent quarter was our best, so I certainly feel it’s a great time to be in crypto,” he said.
With global inflation reaching new heights and the United States’ national debt rising, Ehrlich also believes that “Crypto is becoming more and more of a long-term haven for future generations.”
Advantages of Cryptocurrency
One of the main advantages of crypto is that it creates economic equality. The Voyager CEO underscores that crypto gives access to investor segments who missed out on past booms. Ehrlich describes being able to provide opportunities to build wealth for this sector as “immensely satisfying” as he mentions the huge advantages found within this industry.
While there are many good things, there are also challenges that crypto businesses face. One of these is crypto regulation and policies. However, according to Ehrlich, most of the difficulties that the industry is facing are direct results of its success. He notes that “With a broader, more encompassing regulatory infrastructure design specifically for digital assets, the crypto industry can flourish.”
