The economy is unstable, and it currently makes investing in even otherwise stable markets, such as gold or real estate, risky. Many real estate professionals believe the industry is heading for a market-wide price drop over the next few years. Also, despite being the standard in safe and favorable investments, gold is not as safe an investment as it once was.
According to Richard Iamunno, a digital asset and wealth professional, investors need to look beyond traditional ways of diversifying their portfolios in these challenging times, and one of the better ways of doing it is to invest in cryptocurrency.
Richard Iamunno Discusses the Promise of Crypto in Uncertain Times
To be clear, crypto is not the most stable asset. In 2021, the crypto market was worth close to $3 trillion. By 2022, the market experienced a drop of over $1 trillion, with 72 of the top 100 digital tokens dropping in value by over 90%.
Still, Iamunno and other professionals urge clients to consider cryptocurrency as a haven for at least a portion of their wealth. In a recent interview for Superyacht Investors, Iamunno referenced the recent FTX scandal, stating, “Tuesday (November 8th) was a horrible day in the market. By Friday, it will be like they forgot about it. That is just the way it goes – up and down.”
The crypto market is undoubtedly volatile. However, despite the market’s violent ups and downs, it remains ever-present. Also, because some digital coins display tremendous staying power, Richard Iamunno and others argue crypto is a logical place to invest during uncertain times, especially when other “safer” assets are at risk of sustaining compounding losses.
Still, before encouraging any investor, Iamunno cautions them to understand the market.
Considerations for Future Crypto Investors
Investors must know crypto is a volatile and speculative market, meaning changes in market conditions can considerably change asset value. Therefore, before anyone puts money into a digital currency, they should research the industry and the most reliable available coins.
About The Author
