Securities and Exchange Commissioner, Hester Peirce, has predicted that crypto investments will soar in the coming years. Peirce is very pro-crypto and is called ‘crypto mom’ as she avidly supports the crypto industry. Her prediction is a huge positive for an industry currently riddled with downsides due to the COVID-19 impact.
The SEC commissioner stated that crypto investments would rise as more institutional, and individual investors would add virtual assets to their portfolios. She being a senior SEC official, her comments carry a lot of weight in the industry. Interestingly, she also supports Bitcoin exchange-traded funds.
Peirce predicts a sharp rise in crypto investments
Her sentiments on crypto investment have stoked a new debate on the growth of cryptocurrencies in diversifying the investor portfolio. The Crypto Finance Corporation St. Moritz invited her to be part of a discussion, and she expressed her sentiments regarding the crypto.
As per Peirce, the Coronavirus would have a significant impact on the way investors choose assets in their portfolio. The economic impact would profoundly affect investor psychology, and they would certainly diversify out of conventional assets.
She mentions that the crypto sector, too, has been affected negatively by the COVID-19 economic disruptions. Peirce commented that institutional investors are expressing heightened interest in crypto assets. As the demand for rises for crypto due to economic uncertainty, the spike in crypto investment won’t be far. Crypto would be a weapon of choice in a bid to diversify the investment portfolios.
Crypto mom is the voice of the crypto industry
Another sea change that the pandemic bought is the rise of work-from-home culture. People are now more receptive to working from home, virtual technologies, and the digital economy. This will translate into a hugely positive narrative benefitting the crypto sector. The virtual economy will grow manifold in the near future, and a decentralized realm would be rise too.
Peirce’s entire term at the SEC has been a big positive for the crypto realm. Her staunch support for decentralized technologies and cryptocurrencies has made her a voice of the industry in regulatory circles. However, she has raised concerns that a digital dollar would be fraught with privacy concerns as governments can collect financial data of citizens easily.