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Bitcoin (BTC), Cryptocurrency-Despite the decline in the price of cryptocurrency, which has only recorded a slight recovery since the worst week of losses since 2011, not all institutional investors remain bearish on the digital asset.
Bitcoin & Co., which has seen prices fall by a market capitalization of nearly three trillion dollars at the beginning of the year, have attracted increasingly negative attention in the field of the influence of investments, with most of them proclaiming the most recent plumage for cryptocurrency like the official nail in the coffin. However, for a former head of electronic commerce at Goldman Sachs, the state of cryptographic markets appears to be similar to the early days of electronic equity trading, a report that he hopes will bring positive development for the industry in the coming years.
While many investors, enthusiasts and general advocates of technology and the cryptocurrency market are finding little reason to promote the asset class in the light of the bearish year – and even more disconcerting losses to characterize last month – Greg Tusar, formerly Global Head of Electronic Commerce at Goldman Sachs Group Inc., is excited about the potential of innovative currencies traded on the stock exchange. Speaking in an interview with Bloomberg, Tusar outlined a connection between the current state of the crypto market and what he saw in the early years of electronic stock trading,
"It seems to be at the beginning of electronic stock trading, it's the initial phase, there are many opportunities to build big businesses and make an impact".
Tusar, who now serves as chief technology officer for Tagomi Holdings after spending 13 years with Goldman, continued,
"The current environment is certainly difficult, but we think there is a lot of long-term demand for digital resources and we help customers understand the transformative impact of cryptography and blockchain."
Tagomi Holdings, which Tusar has helped to cofound, is a company that claims to be the first electronic liver-trading company to offer first-class services. Compared to standard exchange services, which offer limited resources for investors, Tagomi aims to empower individual investors by providing more liquidity through more exchanges, as well as greater transparency for customers in relation to hedge funds and high net sales workers who they could operate in the same space.
Tusar highlights a number of problems with the current state of the encrypted market, focusing on the lack of services for investors seeking to execute large orders, as well as finding appropriate custody services for their coin holdings. For example, Tusar states that an investor would be forced to execute an order of $ 10 million of BTC on the typical stock exchange, which may not possess the liquidity or resources to manage such a trade.
Despite the crypto markets being at their lowest point for over a year, Tusar has an optimistic and impatient outlook for the digital asset sector, including the role his new company will play in the emerging space. Speaking to his investors, including Peter Thiel's VC company, who are supporting a cryptocurrency exchange during a period when some analysts are demanding total market collapse, Tusar says he is sympathetic and looks at the cryptocurrency with a "long view" term".
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