Investor Dan Tapiero says that traditional financial asset classes are experiencing a mass slow bleed as they devalue against digital assets.
Speaking at the Bitcoin Investor Day event in New York, Dan Tapiero, the CEO of crypto investment firm 10T Holdings, says that even the obscure, low market cap crypto assets have grown exponentially against the old financial world.
“It’s even true with some of these crappier cryptocurrencies that you [would] never invest a dollar in – or a Bitcoin in – and I think even they have gone up exponentially against all the assets in the old world.
So for me, it was easy to make a break because I saw my purchasing power getting destroyed. I’m sitting there in all the old world investments and you have a 10% move up, or 20 or 30%. but everything in this digital asset economy is crushing it.”
According to Tapiero, since the old financial world is overleveraged, investors will eventually move over to digital assets, which have a finite supply.
“There’s this idea that the fiat world is overleveraged – there’s too much debt and I don’t ever think that we’re going to have a government default or a debt jubilee – none of that happens because it would be too cataclysmic.
But what does happen is that the old world, which is overleveraged – and there are too many bonds – devalues slowly against the new world where in a sense there is a finite supply and no leverage – zero leverage…
if you think about things in those big broad terms it does make sense to exit as much as you can of the old world [financial system].”
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