With the Consensus conference taking place in New York this week, we’re featuring conversations around cryptocurrency. From Bitcoin to Ether and lots of others, where are cryptos headed and what do they mean for market participants and global economics. Our first segment is with Don Wilson, founder of DRW.
When Bitcoin futures launched in 2017 they brought improved price discovery and risk-transfer capabilities to a still young and volatile market. Bitcoin value soared about 1,600 percent last year to nearly $20,000 before seeing a significant drop and increased volatility in 2018. Though skepticism has waned in recent months, there is still plenty of discussion about how cryptocurrencies fit in to investing portfolios.
Shortly before Bitcoin futures launched in December 2017, we asked DRW founder Don Wilson, whose firm was an early entrant in institutional cryptocurrency trading with its Cumberland unit, about the possibilities for these currencies.
He acknowledged that he viewed cryptocurrencies as “an experimental thing,” but added that momentum was on its side.
“There is a growing belief that cryptocurrencies are here to stay,” he told us. “And more and more people are concluding that having some economic exposure or some money invested in these instruments makes sense.”
See his full response in the video above.