My question for you guys is, what is your general investment philosophy surrounding cryptocurrency, and do you think it can and should be part of a well-diversified, long-term investment portfolio? Connor, what are your thoughts on this?
Connor Allen: I think crypto can definitely be part of your portfolio, and I think in a lot of people’s case, and obviously it’s on a case-by-case basis, but it should be a part of your portfolio. It is one of mine.
The cool thing about Bitcoin specifically is that it’s the first asset class that I’ve seen that gains credibility with an increase in price. So you have stocks that typically, when they go up, people think, overvalue, overvalued, price-to-sales ratio is ridiculous, and yadda, yadda, yadda.
But when Bitcoin goes up, everyone’s like, “Oh, I got to buy some”, and that’s kind of the credibility that it gets is that people are believing in this thing. That’s where the value comes from. Which is a whole different conversation and really weird. But that’s something that’s really cool to me about Bitcoin specifically.
Overall, I am a believer in crypto, but I also do understand my shortcomings as an investor. One of those is not being able to understand everything about crypto. I understand the power of DeFi and the power that Bitcoin and other currencies could bring to the world. Like I get that.