Chris Grisanti of Mai Capital Management spoke with CNBC on Thursday about his expectations for the cryptocurrency sector. Grisanti, a CFA, is the chief equities strategist and regional president of Mai Capital Management, a wealth management organization that offers financial planning and investing advice. It’s worth noting that cryptocurrency is nearly a victim of its own success, Grisanti detailed: “I think it’s going to be a tougher year for crypto … there will be calls for regulation from all over the place — from China, from Europe, and here in the United States.” Despite this, the stock strategist believes that some cryptocurrencies will outperform. “I do think there will be a great winnowing as well. I think the more established coins like bitcoin and ethereum will do quite well after regulations come into focus,” he described. The strategist particularized: “Once regulations are in place, institutional investors, I think, will get more comfortable treating bitcoin not as a currency but like gold, which is a hedge against inflation and other things.” Institutional investors are also bullish about further regulation coming to the crypto market, according to a recent survey by Nickel Digital Asset Management, a regulated European digital asset hedge fund manager. ’73 percent of institutional investors and wealth managers believe this will have a positive impact on the price of crypto and digital assets, and 32 percent believe it will have a very positive effect,’ says the report, referring to the US Securities and Exchange Commission (SEC) being given more power to regulate the crypto space.
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