Voyager CEO Says Crypto Businesses will be Rewarded in the Long-Term
Running a crypto business is no easy task and it is certainly not something anyone with a faint of heart can handle. However, the chief executive and co-founder of Voyager Digital, Stephen Ehrlich said that patience is key here because they will get their rewards in the long run. A number of people have invested their money and time in launching and developing businesses related to crypto. According to several reports related to last year, investments of about $30 billion were made by venture capitals in the crypto space. Ehrlich stated that these private companies and VCs would definitely be rewarded for their faith in the digital currency space in the long-term.
Furthermore, the CEO also believes that those who invest in public companies would also enjoy the rewards. The executive said that Bitcoin had managed to outperform all major asset classes in 2021, as it had one-upped gold, the S&P 500, NASDAQ as well as crude oil. Furthermore, he added that there was also an increase in the number of ‘hodlers’, which indicated the long-term viability of cryptocurrencies. The co-founder of the crypto trading platform, which is publicly-traded, also said that the overall growth of the crypto ecosystem could also be seen in other ways.
He highlighted the introduction of benefit programs that permit companies to allow their employees to take part of their paychecks in the form of Bitcoin (BTC). He said that this kind of mainstream adoption was a huge sign because it shows that not only are people ready to buy and sell crypto, but they also want to work for it. He went on to say that the society was moving in the right direction because it is making crypto a store of value. When questioned about the profitability of crypto businesses, the Voyager CEO was happy to share his own experience.
He stated that the company had had its best quarter yet and he thought it was a great time to be part of the crypto space. As the national debt of the United States is rising and global inflation is climbing to new heights, Ehrlich believes that crypto would become a safe haven for future generations. The CEO said that one of the benefits of crypto is that it can provide economic equality. He said that crypto provides access to even those investors who had missed out on previous booms. He added that the industry has huge advantages to offer, so it is immensely satisfying to be able to offer opportunities that can build wealth for the crypto sector.
Nonetheless, it should be noted that while there are benefits, the crypto sector is certainly not without its challenges. Crypto policies and regulation is perhaps the biggest one. However, the chief executive said that most of the difficulties that the industry was dealing with was because of the success it enjoys. He added that the crypto industry could flourish in the future with a more encompassing and broader regulatory infrastructure design, especially where digital assets are concerned.
