The chief executive officer of One River Asset Management called bitcoin and cryptoassets “dramatically undervalued.”
Speaking in an interview with Bloomberg, One River CEO Eric Peters was bullish on the future of crypto-assets, calling the market undervalued amidst the backdrop of the coronavirus pandemic.
Rivers called the global pandemic the perfect “driver” for the adoption of crypto-assets and digital currencies.
He said:
You look at (digital assets) and these are dramatically undervalued relative to some of these other stories of value. That’s what makes us excited about these – it’s an undervalued asset for that macro backdrop.
Peters explained he was focused on bitcoin’s macroeconomic indicators, rather than technical signals. He said the technology of crypto-assets hasd continually astounded his asset management firm in terms of future potential.
He continued:
I have seen a whole range of emerging second-layer applications that will be built upon this technology platform, and they are super promising. I’ve seen enough to know that, in essence, tomorrow is going to look better than today. And think when you’re investing, it’s incredibly important.
Peters said the pandemic was accelerating adoption for crypto-assets, due to the impact on monetary policy and the creation of “enormous” amounts of sovereign debt.
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