Christopher Matta, former Vice President of Goldman Sachs remains extremely bullish on Bitcoin and has even gone as far as to state that he believes institutional money is coming due to the developments made this year.

Matta appeared on CNBC’s “Fast Money” a while back in which he stated that he’d “put his mom’s money into crypto”. Following these comments bitcoin dropped around 7%, and Matta then returned to the popular segment of CNBC to discuss advice he would now give to his “mom”

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Christopher Matta’s advice

Christopher Matta stated investors should “stay calm, this is a long term investment”.  He told Fast Money that while there is a lot of short term volatility the long term “bull thesis” remains very much intact.

Christopher Matta is now the co-founder of crypto crescent asset management, which offers a cryptocurrency investment fund for US investors. He explained how he advises every individual looking to invest that he recommends investing for 2 or more years.

While discussing the long term bull thesis he explained how regulators are now looking into bitcoin and other cryptocurrencies and while this can be seen as a bad thing, there overall insight has been extremely positive. We recently wrote about how the SEC are seeking feedback on Bitcoin ETF’s, and the the United States Congress will hold a hearing surrounding digital currencies. Ultimately he believes the regulations and Bitcoin ETF’s will open up new avenues for investment.

When discussing the need for new investment Matta told CNBC that his company was seeing new investors but while this year a large number of people have “bought at $20,000 and sold at $10,000” which has caused a lot of people to leave the markets.

Institutional Money Is Coming

Christopher Matta explained that over the long term, a solid infrastructure will continue to be build with ETF’s, Options, security and the Custody piece will be figured out. He explained all of this will bring about the institutional money and is what will ultimately lead to a successful investment.

The scarcity of Bitcoin is still a huge selling point for Bitcoin and the bear market which has commenced throughout 2018, he explained that “If you’re bullish for the long term, $6,000 is a decent entry point.” Matta believes that the developments this year have been hugely positive and explained all of this will eventually lead to new money and institutional money is coming.

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