By Nathan Ferguson
Ryan Payne, the president and founder of PCM (Payne Capital Management), provides his viewpoint over the cryptocurrency by mentioning it to be among the major bubbles that emerged throughout history, and it will consequently witness a dreadful market crash. PCM is known to be an autonomous financial planner and advisor based in New York City (NYC) and Philadelphia, providing its services to consumers around the world.
As per the role thereof for being the president of PCM, Payne is the co-designer of the financial planning and investment strategies of the company, along with overseeing the entirety of financial advisors for guaranteeing the distinctive concepts as well as philosophies to adequately be implemented. He additionally drives the educational endeavors of PCM to notify the public regarding the target-based planning of finance as well as investment.
While appearing in the latest interview conducted by Yahoo Finance, Payne reminded the emotions of Charlie Munger (a billionaire) by emphasizing that the present financial era is uncontrollable. He added that the present epoch is yet fanatical than the time of dot-com. As per the perception of Payne, BTC (Bitcoin) as well as the other assets in crypto symbolize a large bubble within the sector of finance. He moved on to declare that BTC counts as among the principal bubbles ever.
It was anticipated by Payne that the ultimate end of the respective bubble is its explosion. He stated that the end would expectedly be horrible. It was revealed by the prominent financial advisor that the cumulative market cap of the cryptocurrency is approximately more than $2T, as compared to the stocks of dot-com (being 50% of thereof with having a market cap of up to $1T).
Notwithstanding the assertions of Payne that declare crypto markets to be included in a bubble, he considers that Bitcoin’s price will move above as it is a consequence of the extreme liquidity that is prevailed in the crypto markets. He drew a comparison between a casino and cryptocurrencies by pointing out that the respective industry is becoming more and more gigantic due to a large amount of money being deposited in it.
Payne said that this industry is just like that of the former housing and tech bubble, and suggested that the investors should move towards recurring stocks rather than depositing their money in this field.
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.