Investment Advisors Suggest Bitcoin as a Long Term Asset

Thom Lachenmann and Parke Shall, advisors at Orange Peel Investments, have invested in bitcoin and suggest investors take a small position in the asset for the long term. Writing in Seeking Alpha, they noted that the Brexit referendum is a sign that bitcoin will become a serious safe haven for investors.
The advisors noted they were not quick to take an interest in bitcoin when it began. They were skeptical of a currency that was not widely accepted or regulated. But in eight years, they see it is being used as a safe haven for investors looking to evade the British pound’s volatility and by Chinese investors seeking to exit local currencies.
‘First Real Moment In The Sun’
The advisors noted this is bitcoin’s ‘first real moment in the sun’ after the price jumped more than gold’s value did in reaction to the United Kingdom referendum to exit the European Union.
The cryptocurrency also brings the benefit of its supply being halved in July. At that time, miners will only be able to provide half of the bitcoins they previously delivered. The advisors noted that bitcoin observers have cited this ‘hard limit’ of bitcoin production as one of its most revered rules. The bitcoin code requires that 21 million coins will be released, and this limit marks a revolutionary accomplishment. The limit is a way to prevent the endless production of the currency that paper currencies have suffered.

This post was published at Crypto Coins News on 27/06/2016.