Fisher Investments CEO says Crypto is no longer a “potential risk”

Sunil Sharma
December 29, 2021
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The billionaire and CEO of Fisher Investments, Kenneth Fisher recently predicted that the upcoming year will experience double digits for the stock market, while the crypto industry will also continue its hype. In an interview with CNBC-TV18, Fisher noted that he still believes that crypto poses substantial risk to the financial systems, however, it is unlikely to become a potential risk in 2022.

“I do think it’s a potential risk, but I don’t think it’s a potential risk that is likely to be a problem in the year 2022. Probably afterwards.”

Amid arguing in favour of the stock market, levying its volatility to the ‘pre-price’ phenomenon, the anti-crypto billionaire maintained his stance on virtual currencies, claiming “these kinds of things burst”. Referring to the “burst”, he asserted that the bear market will steep lower and lower until it hits rock bottom and then some. Furthermore, Fisher only gave crypto a free pass for 2022 and emphasised that it may become a problem very soon if not next year.

“Normally these kinds of things burst. After you have already started what is a normal kind of a bear market. The bear market begins first, bear markets usually begin gently, not violently and then they get more violent later and in that later violent period that you usually see these kinds of things blow up and become potential real problems.”, Fisher told CNBC-TV18.

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Crypto adoption 2021

While the world stands divided on the decentralised industry, crypto has proven itself several times over in 2021. From countries opting Bitcoin as legal tender to institutional giants running multi-billion dollar VC rounds related to crypto, the industry has outperformed as this year nears its end.

According to the 2021 Chainalysis Global Crypto Adoption Index, residents of more and more countries around the world adopted cryptocurrency use this year. Data collected from 154 countries’ index scores determined that as compared to the end of Q2 2020 when total global adoption stood at 2.5, saw unrealistic hike by the end of Q2 2021 with a total score standing at 24, suggesting that global adoption has grown by over 2300% since Q3 2019 and over 881% in the last year.

Image Source: Chainalysis
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.