A member of Tesla, Ross Gerber, will invest in Bitcoin and Ethereum for its clients and leave the investment for as long as possible to ” see it grow the way Tesla and Apple grew.” Kawasaki, a wealth management firm, with more than $1.7 billion assets under management, is set to put some money in cryptocurrencies via Gemini to enable its clients to earn from the crypto bullish momentum. Although Gerber is not enthusiastic about the NFT craze, he is a famous Tesla bull and BTC enthusiast. The firm, Gerber Kawasaki, headquartered in California, manages investments for its clients the same way investment management firms operate.
Gerber to Diversify Clients’ Funds to Various Assets
According to the founder, Ross Gerber, it will be a disservice to his clients if he fails to provide them with such crypto opportunities. In addition to having large shares in Tesla, Gerber also holds some stocks in the Cannabis sector. In his statement, he narrated how he went the extra mile to buy complicated cannabis stocks and took time to research valuable stocks. Gerber asserts that if he could take time to research before buying those stocks, he can spend the same effort on cryptocurrencies. Gerber recalled that he had been a long-time investor in Bitcoin, Ethereum, and Binance coin. He is also a firm believer in the investment opportunities inherent in digital assets. Also, he has studied Wall Street’s position, which is now favorable to the crypto industry.
Gerber affirms that he is used to criticisms, as he has faced many criticisms for holding Tesla and cannabis stocks. He said that people who dismiss Bitcoin as a reliable store of value are doing so because of the asset’s volatile nature. He states that he will diversify part of his clients’ funds to cryptocurrencies, especially Gemini, and use it to buy Bitcoin and “watch it grow like Tesla or Apple.” He says each client will have at least 1% investment in cryptocurrencies the same way they have invested in gold.
Gerber is not a Fan of the NFT Craze
Although many famous institutional investors, such as MicroStrategy and Tesla, have been actively involved in Bitcoin, Gerber is not satisfied with the condition of the crypto industry, especially the NFT craze is spreading across the art, sports, and music industry. He told journalists that what is happening now can weaken Bitcoin. He said recently, ICO caused the downfall of Bitcoin. “When things are moving smoothly for BTC, some rogues come and disrupt the flow. He sees NFT as another way to squander people’s money and weaken the value of Bitcoin. He sees a situation whereby the Securities and Exchange Commission may come in and halt the NFT craze. If care is not taken, Gerber says, the NFT ” scam” can hurt the reputation of both Bitcoin and Ethereum.
He admitted that there are few genuine NFT providers but thousands of fraudulent individuals who are in the industry to dupe innocent and unsuspecting investors. Comparing gold to Bitcoin, the Tesla Chief said in the past, gold was also as volatile as Bitcoin. “Bitcoin is only in its 10th year, and in 10 years, it will be doing better.” he said. He also says Bitcoin is a store of value comparable to the dollar than to real estate.