{"id":128274,"date":"2021-06-09T21:10:14","date_gmt":"2021-06-09T21:10:14","guid":{"rendered":"https:\/\/precoinnews.com\/?p=128274"},"modified":"2021-06-09T21:10:14","modified_gmt":"2021-06-09T21:10:14","slug":"billionaire-investment-banker-ken-moelis-reveals-intention-to-pursue-investment-in-crypto","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/billionaire-investment-banker-ken-moelis-reveals-intention-to-pursue-investment-in-crypto\/","title":{"rendered":"Billionaire Investment Banker Ken Moelis Reveals Intention To Pursue Investment In Crypto"},"content":{"rendered":"<p>Billionaire investment banker Ken Moelis has compared the cryptocurrency era to the gold rush of 1848, telling Bloomberg he\u2019s monitoring the crypto space in hopes of discovering new opportunities.<\/p>\n<p>Moelis, the founder of investment banking firm Moelis &amp; Company, revealed an intention to explore and invest in digital assets during a Bloomberg Deals summit on Tuesday.<\/p>\n<p><em>\u201cMaybe on the personal side, definitely on the business side, we are focused on having expertise,\u201d <\/em>he told the outlet with regards to potential crypto investment.<em> \u201cIt\u2019s a big market, there\u2019s a lot of capital in there, there\u2019s a lot of projects.\u201d<\/em><\/p>\n<p>The 63-year-old noted he is still cautious, however.<\/p>\n<h2><strong>Reason For Caution<\/strong><\/h2>\n<p>Of course, there\u2019s every reason to be cautious given the way the crypto market could be &#8220;manipulated&#8221; &#8211; although it\u2019s not unlike other markets, where prices could either soar or plunge on the whim of someone considered to be influential in the pertinent space.<\/p>\n<p>Bitcoin is still recovering from Elon Musk\u2019s social media activity. What\u2019s more, most of the crypto assets on the market have followed a downward trend. Just this week, former United States President Donald Trump referred to Bitcoin as a scam and a threat to the dollar. But there are advocates who have made names for themselves in traditional investing and entrepreneurship who have taken a liking to Bitcoin and crypto in general.<\/p>\n<h2>The Gold Rush Comparison<\/h2>\n<p>Bridgewater Associates founder Ray Dalio recently revealed being in ownership of Bitcoin while a recent job listing suggests Amazon is looking to get involved too. PayPal has been allowing crypto purchases from its platform for several months now and has also outlined plans to let users withdraw to wallets of their choice.<\/p>\n<p>Galaxy Digital completed the first billion-dollar takeover this year when it agreed to buy BitGo Inc.; Goldman Sachs Group and JPMorgan Chase &amp; Co. were involved in helping Coinbase go public this year.<\/p>\n<p><em>\u201cIt\u2019s like the gold rush of 1848, a lot of people didn\u2019t know if there was gold in the ground, but Levi\u2019s made a business selling jeans and Wells Fargo made a banking business,\u201d <\/em>Moelis added<em>. \u201cI believe our business is selling the picks and the shovels, so we have to know what people want. What picks and what shovels they need, what tools they need to be successful.\u201d<\/em><\/p>\n<p>The cryptocurrency space has come to a point where it simply cannot be ignored by the world\u2019s biggest companies and business owners. Making it even more attractive is the fact that steps are being taken to clean up the mining process where proof-of-work coins are concerned.<\/p>\n<p>Source: <a href=\"https:\/\/zycrypto.com\/billionaire-investment-banker-ken-moelis-reveals-intention-to-pursue-investment-in-crypto\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire investment banker Ken Moelis has compared<\/p>\n","protected":false},"author":3,"featured_media":128273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Billionaire Investment Banker Ken Moelis Reveals Intention To Pursue Investment In Crypto - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/billionaire-investment-banker-ken-moelis-reveals-intention-to-pursue-investment-in-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaire Investment Banker Ken Moelis Reveals Intention To Pursue Investment In Crypto - 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