Those of us who got into the cryptocurrency space early weren’t fazed by the volatility of 2018 – and aren’t surprised at Bitcoin’s 65% surge since bottoming out in February of this year. It’s confirmation of what we knew all along: Bitcoin is resilient, and blockchain technology is here to stay.
Investors want to know where we go from here, and how to best position ourselves for the next leg up in crypto. To get clarity on this and other pressing cryptocurrency-related topics, Crush the Street sat down for a talk with Frank Holmes of HIVE Blockchain Technologies (TSX.V:HIVE, OTCMKTS:HVBTF), located on the web at HiveBlockchain.com.
A highly successful investor in multiple asset classes, Frank Holmes leads the board of directors at HIVE and contributes to the firm’s vision and strategy. Mr. Holmes is also the Chief Executive and Chief Investment Officer at U.S. Global Investors, a top-rated mutual fund and asset management firm, and he’s the author of the Frank Talk CEO Blog, located on the USFunds.com website.
Courtesy: Frank Holmes
Highly sought after as a keynote speaker at international investment conferences, Frank Holmes is a frequent and eagerly anticipated guest in the business media. A Toronto native and former President and Chairman of the Toronto Society of the Investment Dealers Association, Mr. Holmes has been featured on numerous well-known financial platforms.
Frank Holmes excels not only as an investor and a public speaker, but also as a writer on multiple financial topics. In fact, Mr. Holmes’ Frank Talk CEO Blog is one of the most widely read resources in finance: more than 30,000 subscribers follow his weekly commentary in the award-winning Investor Alert newsletter, which is read in over 180 countries.
We feel that Bitcoin reclaiming $5,000 is a strong indicator that crypto is alive and well, and Crush the Street wanted to get Mr. Holmes’ take on the current state of the cryptocurrency market. According to Frank Holmes, it’s noteworthy and a bullish sign that Bitcoin bottomed out at the same time that Jamie Dimon and JPMorgan got into the crypto space.
During Mr. Holmes’ 40 years in the capital markets, he’s been through 10 major stock market corrections, and he’s observed that when there’s a debt crisis like America experienced in 2008, it typically takes around four years for the crisis to resolve.
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Courtesy: Frank Holmes
However, when it’s a non-debt bear market, like we saw with cryptocurrency (which is predominantly a cash economy), it resolves much faster – more like 18 months instead of four years, according to Frank Holmes.
HIVE Blockchain Technologies has thrived throughout crypto’s ups and downs: as Ethereum went from $300 to over $1,300 and Bitcoin went from $3,000 to nearly $20,000, HIVE/HVBTF shareholders were able to participate during this incredible run-up in price.
As Bitcoin rises out of the bear market, Mr. Holmes observes that the number of cryptocurrency wallets increased dramatically even when crypto prices were falling. Now that the prices are rising again, we can expect to see the number of wallets and the overall adoption rate to increase even faster.
Moreover, according to Frank Holmes, the new regulations we’re seeing in the crypto space are cleaning up the market, making it safer and more transparent – a positive development for the long term. As more big banks and institutional investors learn to trust cryptocurrency and the blockchain, more money will flow in and that’s going to benefit the industry going forward.
Courtesy: Frank Holmes
And since HIVE/HVBTF shares have a 94% correlation with the price of Bitcoin, investors don’t need to bother with the complexities of getting a crypto wallet and trading on a cryptocurrency exchange; in fact, you can simply trade shares of HIVE stock from your traditional brokerage account.
It’s clear that Frank Holmes is confident in this company, as he’s a major shareholder and he didn’t even take a salary when he joined the company. After speaking with Mr. Holmes, I’m planning to use HIVE/HVBTF shares as a proxy for Bitcoin or Ethereum because they’re highly liquid and easily tradable in my stock portfolio.
You’re invited to check out Crush the Street’s fascinating and highly informative interview with Frank Holmes, as we discussed a range of important topics for all current and prospective cryptocurrency investors. The Bitcoin revolution is under way – and HIVE shareholders are definitely on the right side of the trade.
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