(Representative image)

Key highlights

  • Bitcoins can see strong gains in the coming quarters, says Chris Wood
  • Chris Wood’s advice: own both gold and bitcoins
  • Over 10-15 Years Crypto Can Be Disruptive: Chris Wood

Chris Wood is firmly committed to cryptocurrencies and wants Gen Z to find out more about it. Jefferies’ Chris Wood believes that cryptocurrencies have a very bright future and can be “disruptive” for the next 10 to 15 years.

This and exposure to stocks are two more important investment bets for Chris Wood going forward. Given that as Covid cases rise, stocks get shaky and global bond yields rise, the call for asset diversification won’t go unnoticed, especially when it comes from such a credible market guru.

This is also a contrary position from the discourse in the Indian administration, in which there was talk of a crypto ban with great force.

Chris Wood predicts that more companies will be exposed to crypto on their balance sheets. He regrets not having gotten into bitcoins in an institutional way earlier as regulations prohibited it.

Now that the institutes are officially allowed to invest in Bitcoins, he sees further profits for the virtual currency in the coming quarters. Bitcoins are hard to ignore for global investors seeking high returns, as it is now a $ 1 trillion economy.

This is larger than that of JPM and BofA combined. As of 2020, it has delivered a return of nearly 600%. Another cryptocurrency – Ethereum – has risen over 700% since the beginning of last year. That trust in cryptos has grown even stronger as companies like Microstrategy, Tesla, Paypal, and Visa, among others, start putting trust in its architecture.

This bet on Bitcoin is not at the expense of safe havens. Chris Wood advocates buying gold and bitcoins. But the cryptocurrency is clearly his bet for the future, for those who will listen.