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    Gateway Partners CEO Reiterates Its Stance On Bitcoin: Crypto Assets Too Risky For Investment

    Gateway Partners Reiterates Its Stance On Bitcoin: Too Risky For Investment

    Gateway Partners, a successful and exemplary investment house, has opted to keep off Bitcoin and other cryptocurrencies even as other notable institutional investors make inroads in the cryptocurrency market.

    Always Been Skeptical Of Cryptocurrencies

    Back in 2017, the company’s CEO, Viswanathan Shankar, warned against getting lured into the Bitcoin and cryptocurrency craze. This was during a period when the price of Bitcoin was appreciating at an unprecedented rate, hitting an all-time high of over $19,000. Mr. Shankar recently reiterated his company’s stance in a recent interview with the Nikkei Asian Review.

    Interestingly, Bitcoin prices have been on a steady downfall since the beginning of 2018. The average price of Bitcoin currently stands at $3,000. What’s more, analysts project worse times ahead as Bitcoin prices are expected to fall well below $2,000 – some notable critics even suggest that Bitcoin may lose its value altogether.

    Interestingly, many investors have taken advantage of the ongoing bear market to invest in Bitcoin as they consider this the ideal opportunity to “buy low”. Mr. Shankar has noted this and said that Gateway Partners will still keep its distance.

    Look To Asia And Africa Instead

    Mr. Shankar at one point in the interview said that Gateway Partners was for “biscuits” and not Bitcoin. He later explained that this meant that his company was focusing its investments on Asian and African countries providing everyday goods and services for the common people. Interestingly, this is the stance taken by Warren Buffet, one of the most notable investors and the head of Berkshire Hathaway – it should also be noted that Mr. Buffet has been a fierce critic of Bitcoin and cryptocurrencies in general. So, why Africa and Asia?

    Mr. Shankar has cited several reasons for his focus on Asia and Africa. First, he aims to avoid the fallout from the ongoing trade war between the U.S. and China – he is also concerned by President Trump’s aggressive trade policies towards Europe and Canada. To this end, his scope on China will mostly be speculative.

    Mr. Shankar has also expressed optimism in the future of South-South trade. He said that investing in Asia and Africa at this juncture will give Gateway Partners a competitive edge for the future when African and Asian economies bloom.

    “South-South trade may increase further in the long run. It will create new global supply chains, global markets, new trade routes, and investments,”

    said Mr. Shankar.

    Other Investments To Avoid

    Mr. Shankar expressed skepticism not only in Bitcoin but also in Tesla and Argentina. Regarding Argentina, Mr. Shankar pointed out that the company was on the verge of the financial crisis following the ongoing political turmoil in the country. Indeed, many investors are pulling out of the country.

    Regarding Tesla, Mr. Shankar pointed out that the company, albeit promising in many ways, has been struggling owing to its CEO’s questionable style of leadership.

    Conclusion

    Mr. Shankar is firm on the critics’ side in the ongoing debate about the future of Bitcoin. His company, Gateway Partners, has vowed to keep off financial technology. Instead, he will focus his funds on emerging economies in Africa and Asia.

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    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

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