In this week’s Cryptonites interview, co-founder, chairman and CEO of Celsius Network, Alex Mashinsky, shared his Bitcoin price prediction, while explaining why the “hodl and rebalance” approach is the best way to play the volatile crypto market.
This is a truly timeless episode you don’t want to miss, as the founder of eight startups and three Unicorns, who raised more than $1.5 billion with over $3 billion in exits, explains why everyone should rebalance their book “at least once a quarter.”
Here are some of the more memorable quotes from the interview, in which Alex Fazel and Mashnsky covered the most impactful events of 2021–the year in which “the dam broke.”
Mass adoption
“On the adoption–we are running faster than people expected. You are seeing a lot of institutional money, as well as a lot of VC investments, because they are all realizing–Gosh, it’s actually happening this year,” said Mashinsky, as he interpreted institutions and corporates coming into crypto as a huge breakthrough.
“A lot of it is driven by companies like Robinhood and Revolut and Paypal and Venmo–they have huge amounts of customers and them adding crypto basically creates this mass adoption,” he added, while explaining how different types of investors all played their part.
“We still have issues,” added Mashinsky, arguing that the crypto space is dominated by men. “We need to figure out how we bring women into crypto, and on the side of institutional adoption–how do we convince sovereign wealth funds, institutional funds, retirement funds to allocate into this class.”
Crypto regulation and Bitcoin ETF
While he referenced El Salvador’s and Ukraine’s Bitcoin legislation, Mashinsky identified the Bitcoin ETF as the key bullish factor in 2021.
“If you think about it as the guard at the gate–the guard that doesn’t let all the institutional money come in–is really the fact that there is no ETF, because the ETF is a product that every one of those institutions can use,” he said.
“This is the first time in history where the institutions are the last ones to come to the party–usually they are the ones selling us stocks at ATHs,” said Mashinsky, noting that “it’s time for payback.”
“I don’t think any regulator wants to kill this business, or wants to discontinue this business–I think that’s a misnomer–if they want to regulate it, if they want to tax it, that means they are not shutting it down,” added Mashinsky, who believes that crypto regulation and regulatory clarity will bring more people in.
“These things are gonna take time. They are gonna bleed into next year,” he concluded, while advising–”If you are moving too fast–take some off the table. It’s hodl and rebalance. It’s not just hold.”
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