Jamie Coutts, Crypto Market Analyst for Bloomberg Intelligence argues that “falsehoods” and “fear of the unknown” is what has been holding back traditional portfolio managers from investing in cryptocurrency.
Speaking to Cointelegraph during the Australian Crypto Convention over the weekend, Coutts argues there has been an ongoing “falsehood” that “there is no intrinsic value in blockchains.”
“These asset managers own stocks, like Amazon and Facebook [...] which for the first several years these companies had no earnings,” explained Coutts, adding that Facebook in its infant stages “didn’t have profit [...] or seen to have any intrinsic value.”
“Yet they could understand there is a network value here, that the network is growing, that the value of the asset accrues from how many people are using the products.”
Coutts believes that “although not all blockchains are cash generative assets, including Ethereum” there is certainly intrinsic value there.
However, the Bloomberg analyst...
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