Crypto ‘here To Stay,’ But Its Role Is Unclear, Columbia’s Kim Lew Says

The crypto analysts and tech-savvy people like CEO Kim Lew are expecting cryptocurrencies to stay here forever. President and CEO of Columbia Investment Management Company even said in an interview to that cryptocurrency would definitely have profound effects, and there are multiple avenues where it can go. Kim Lew explained that the crypto ecosystem provides many opportunities, and it will help people and businesses to construct new things like non-fungible tokens and stablecoins that will help businesses to grow.

Lew said that it is crucial for the Columbia Investment Management Company to manage the $11-billion endowment of Columbia University to experiment with the crypto assets. She also added that it gets stressful to make sure that the company builds great relationships with people that are experts so that the company can leverage their expertise to choose which way would be helpful. She said that though cryptocurrencies are not an asset class that Columbia will invest money in them because of the risks involved and the highly volatile market. Lew also believes that cryptocurrencies will be great in the future and is a great opportunity for long-term investors. Lew believed that it is clear that bitcoin’s role is crucial and it will definitely play a great role, but the role is not clear.

Kim Lew has worked for around 13 years in executive roles at Ford Foundation; she was hired to supervise the endowment of Columbia University in the United States. She added that she has a great interest in cryptocurrencies, and she is not alone as a survey has been done of institutional investors where it was revealed that around 70% of investors expect to invest in cryptocurrencies in upcoming years.

It has been clear that cryptocurrencies are increasing, and people believe in these digital assets, but still, they hesitate to invest because of the volatile market and risks involved in these currencies. The role of cryptocurrencies seems unclear, and there is no clarity on where cryptocurrencies will be in the next five or ten years. Some consider bitcoin as a medium of exchange, while some analysts say bitcoin has the features of gold. Though bitcoin has great potential, it is yet to see what will be the future of bitcoin and other cryptocurrencies.

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