‘Bitcoin is gold for nerds’: Wall Street analyst says virtual currency is ‘absolutely’ valid for a diversified portfolio

Financial Post | Business

Bitcoin hasn’t really hit Wall Street yet.

We can count the number of strategists we’ve heard talking about the virtual currency on one hand (Sebastien Galy at Société Générale explained how to think about valuing them, and Deutsche Bank‘s Jim Reid mentioned it briefly once).

[related_links /]

There’s also ConvergEx Group chief market strategist Nick Colas, who was really the first to address it several weeks ago.

He was on Bloomberg Surveillance this morning, and he told anchors Tom Keene and Sara Eisen that Bitcoin “absolutely is” something valid to consider for a diversified portfolio.

“If you want to make money, you have to be open to new ideas. This is a key new idea,” said Colas.

That’s a pretty ringing endorsement for an unregulated, digital currency market that seems prone to massive swings – like the ten-fold rise in value since January, or the…

View original post 238 more words

Advertisements
Categories: Uncategorized | Leave a comment

Post navigation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: