Peter Brandt sees no opportunities in crypto
15. September 2020
He prefers to invest his money elsewhere.
When faced with a choice between blockchain and traditional investments, things could look better in the stock market, according to Peter Brandt, CEO of trading firm Factor LLC. However, he added that it would depend on the choice of base currency
Brandt made it clear that he had mainly switched to the US dollar when considering his next steps. „At the moment, I think that the opportunities in the stock market are greater than in the crypto market,“ he told Cointelegraph on September 9th.
„I just can’t imagine really speculating with crypto,“ Brandt continued. He traced this mindset back to his generation. Brandt has been in traditional market trading since 1976, building Factor LLC in 1980, decades before the invention of blockchain assets.
„I belong to a generation that defines their wealth in US dollars,“ said Brandt. He described the US dollar as his standard method for storing wealth. „‚For a lot of the younger generation, the home currency is Bitcoin Superstar platform or whatever.
I mean, whatever their house stone is.“ He was referring to a fad from the 1970s where people paid money for stones and they were sold in boxes as pets
“ Stacking Sats “ is a term from the crypto area. This means that people keep their assets in Bitcoin while investing trade and other profits back into Bitcoin to keep them longer term. Most of the industry also views the asset as a hedge or store of value . This indicates a possible generation change away from the US dollar. This has been the leading store of value in the past decades.
„I’m keeping a low profile and looking for opportunities,“ said Brandt, referring to his current attitude. „I currently see greater opportunities in selective stocks, not in the broad market, but in selected stocks. I see these less in crypto.“
In 2020 , mainstream assets have skyrocketed. Brandt’s view therefore coincides with the current stock market atmosphere.