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Jacob Walthour, CEO and co-founder of Blueprint Capital Advisors, discussed the crypto and stock market outlook in an interview with CNBC on Wednesday (December 29).
With over 25 years of experience in the traditional financial markets and wealth management, Walthour shares:
“At this stage, we have to rethink how it all started. Throughout human life, we started buying things with cash, then the idea of using checks, then the idea of using cards, and now the idea of paying electronically. To me it’s the use of cryptocurrencies, the whole concept of a wallet. It bodes well for crypto adoption over the next 5 to 10 years.”
The CEO emphasized that there are now many companies accepting cryptocurrencies as a form of payment:
“I think it would be a mistake to ignore this asset class (cryptocurrency), which has been thriving for the past five years.”
“But as the US stock market stalls and cryptocurrencies go up, I think the FOMO sentiment may be taking over and a lot of the money flowing from equities to crypto.”
While acknowledging that as stocks sell off, the cryptocurrency could fall further due to higher volatility, Walthour doesn’t think that’s inevitable in the near future.
“Based on the massive sell-off in crypto last quarter, my prediction for the foreseeable future is that crypto will likely outperform the stock market in 2022.”
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