Nasdaq: the VanEck guru bets on the Bitcoin market
Nasdaq: the VanEck guru bets on the Bitcoin market

Nasdaq: the VanEck guru bets on the Bitcoin market

By Fabio Lugano - 17 Jan 2019

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VanEck Investment, one of the largest investment firms specialising in advanced finance and ETFs, foresees a positive 2019 for the bitcoin market, as stated in an interview with Nasdaq TradeTalks.

In fact, Gabor Gurbacs, chief analyst for the digital assets sector of the famous VanEck, in an interview with Nasdaq TradeTalks, said he expects a slow but steady growth for the new year and finds himself in a much easier situation, compared to the same period in 2018, when advising his customers to invest in the sector.

VanEck analyst’s confidence in the bitcoin market comes from three main factors:

  • a more robust virtual currency market;
  • improvement in security programmes and general market surveillance;
  • a move towards the crypto 2.0 market, where digital currency is also accompanied by a wider offering of related financial products such as futures and options.

An essential element for the entry of new investors is the quality of the market structure. According to Gurbacs, clear deposit schemes and exchange security measures are essential for the entry of new institutional investors who do not like shortcuts when it comes to the safety with which their assets are invested.

In addition, always according to VanEck’s analyst, 2019 should be marked by the first episodes of extraordinary financing transactions involving virtual currencies, to be understood as mergers and acquisitions between different projects. Initial public offerings (IPOs) related to the crypto world are expected in both the East and the USA.

Moreover, acquisitions are the easiest way for an outside company to quickly enter the bitcoin market.

2019 will see a strong effort by companies behind virtual currencies towards full transformation into recognised means of payment.

In this respect, they can be helped by credit card branding, with Mastercard likely to abandon its logo and focus more generally on anonymous payment services.

According to what was stated during the interview with Nasdaq, the latest relevant trend for 2019 will also be the year of state cryptocurrencies, with the IMF giving the green light to eight countries for the launch of their national digital currency. The countries involved are Russia, Venezuela and Canada, these will probably be accompanied by some other G20 countries that will turn into crypto-friendly environments, opening up new opportunities for the bitcoin market to evolve.

Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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