As discussions continue in the cryptocurrency market regarding the future of Bitcoin (BTC), Moez Kassam, co-founder and investment director of Anson Funds, which manages billions of dollars in assets, has made noteworthy statements. The renowned investor argued that Bitcoin is no longer a temporary speculative tool and that institutional adoption has significantly changed the future of BTC.
Appearing on Anthony Pompliano’s podcast, Kassam explained how his perspective on Bitcoin has changed over the years.
Kassam stated that he initially viewed Bitcoin only in terms of investment opportunities and corporate deals, but over time he came to believe in the fundamental value of the cryptocurrency.
Kassam noted that Bitcoin was historically associated more with anonymity and the underground economy, but today it has transformed into an investment ecosystem that includes major financial institutions.
The renowned investor stated, “Previously, I was only interested in investment deals. Now I believe Bitcoin has an intrinsic value and is here to stay.”
Kassam noted that Bitcoin has experienced many sharp price movements and market cycles over the years, but despite this, a strong investor community has formed that continues to support the cryptocurrency.
According to Kassam, the adoption of Bitcoin by large financial institutions in particular, and their inclusion in investment platforms, has significantly differentiated the cryptocurrency market from the past.
Speaking about Anson Funds’ activities in the Bitcoin market, Kassam revealed that his fund has provided a total of $1 billion in capital to companies holding Bitcoin on their balance sheets over the past 18 months.
The investor stated that they manage assets worth approximately $2.5 to $3 billion, and that these investments are made through various structures such as stocks and convertible finance instruments.
However, Kassam added that he does not have a positive view of all Bitcoin treasury companies.
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Kassam argued that the adoption of the institutional Bitcoin accumulation model, popularized by Strategy, by numerous companies is increasingly reducing investment opportunities, noting that early adopters have gained a significant advantage.
The renowned investor stated that many companies that have recently entered the market are driven by the expectation of quick profits, and that this poses a risk for investors.
Kassam also stated that they see opportunities in the preferred shares of Strive, a Bitcoin-focused investment company. The investor noted that these financing instruments offer approximately a 15% return, explaining that institutional investors can profit from the price difference by purchasing these instruments at discounted prices.
Kassam also touched upon market expectations regarding Bitcoin’s future performance, stating that some investors predict a 30% to 50% increase in their financial models for the next year. However, he did not present these predictions as his own definitive price target.
*This is not investment advice.
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