Managing a cryptocurrency business is no easy task and it is most certainly not for everyone. Nonetheless, consistency and patience are essential for getting returns in the grand scheme of things, says Stephen Ehrlich, the Voyager Digital co-founder and CEO.
A lot of people have put effort and resources into building cryptocurrency-related enterprises. According to reports from 2021, venture capitalists made over $30 billion in investments which, per Ehrlich, will be rewarded in the long run for their confidence in cryptocurrencies. Furthermore, he feels that public company investors will benefit as well. “In 2021, Bitcoin outperformed all major asset classes, one-upping crude oil, NASDAQ, the S&P 500, and gold. Moreover, the number of ‘hodlers’ is trending in a positive direction, signaling crypto’s long-term viability,” Ehrlich emphasized, speaking for Cointelegraph.
This general expansion of the cryptocurrency ecosystem is also reflected in the launch of benefit packages that enable employees to receive part of their wages in Bitcoin (BTC), said Ehrlich, adding that “such mainstream adoption is an incredible sign – not only are people willing to buy and trade crypto, but they’re also willing to work for it. As a society, we are progressing in a direction that puts more store of value in cryptocurrencies.”
Ehrlich also said that it is lucrative to be part of the crypto ecosystem, seeing as his own publicly traded platform has had the best quarter yet, indicating that there is no time like the present to participate in the crypto industry.
“Crypto is becoming more and more of a long-term safe haven for future generations,” according to Ehrlich, mainly due to its properties as a hedge against inflation.
Cryptocurrency has a number of benefits, among which promoting economic equality is the most significant one. Ehrlich emphasizes that crypto provides entry to investor sectors that have been left out of previous peaks to have a chance and still benefit from their participation. As he emphasizes the major benefits present within this area, Ehrlich says that it is tremendously fulfilling to have the chance to create wealth in the crypto industry.
Though there are several positive aspects to crypto enterprises, they also confront difficulties. Cryptocurrency legislation and rules are one of them. Nevertheless, according to Ehrlich, the majority of the industry’s problems are a logical outcome of its prosperity. Ehrlich points out that: “with a broader, more encompassing regulatory infrastructure design specifically for digital assets, the crypto industry can flourish.”
Recent global events have shown that cryptocurrencies provide liberties that traditional finance is reluctant to facilitate. As such, according to many experts of the industry, there is optimism on the prospects of cryptocurrencies and other virtual assets.