Fear of the Unknown Keeps Traditional Investors Away From Crypto, According to Bloomberg Analyst
Crypto – Bloomberg Intelligence cryptocurrency market analyst Jamie Coutts argues that “fear of the unknown” is preventing traditional portfolio managers from investing in cryptocurrencies. Speaking to Cointelegraph at the Australian Crypto Conference over the weekend, Coutts argued that there has been an ongoing “falsehood” that blockchains have no intrinsic value.
Coutts believes that “although not all blockchains are cash-generating assets, including Ethereum,” there is certainly intrinsic value there. However, the Bloomberg analyst said he couldn’t quite put his finger on why there was a hesitation to embrace cryptocurrency, ruling out lack of regulation as the reason. Regulation is not one of them.
Let’s repeat itc again. Regulation is always an issue, but BTC is regulated, he added. There really isn’t any regulatory risk,” Coutts said because crypto became regulated at the time it became a taxable item that you have to “disclose to the tax authorities in whatever jurisdiction you’re in.
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