Some guys are ready to bet everything in something they believe. It looks like to happen with Brian Kelly, an outspoken bitcoin uberbull, that talked to CNBC and affirmed 90% of your investments are applied on cryptocurrencies. Check it now.
“But that is not for everybody,” said the founder of BK Capital Management, who runs the BKCM Digital Asset Fund. “I’m generating a large bet.”
That’s a big bet indeed, thinking about bitcoin and other cryptocurrencies make the current spikes and plunges in the stock marketplace appear like child’s play.
Bitcoin, the world’s largest cryptocurrency, hit a record high of greater than $19,000 in mid-December after soaring about 1,300 percent for all of 2017.
But in the new year, bitcoin has been beneath pressure because of regulatory concerns, hitting a near-term low of under $6,000 last Tuesday. Because then, bitcoin has rebounded more than 40 %.
Asked no matter whether he can tolerate letting his income ride in a marketplace known for 10 to 20 % gyrations any provided week, Kelly said, “I am comfortable with that.”