Columbia Investment Management Company president and CEO Kim Lew thinks\u00a0that cryptocurrencies are here to stay.\u00a0<\/p>\n
\u201cI think it will have profound effects,\u201d she said in a recent interview, adding, \u201cThere are many different avenues that it can go.\u201d<\/p>\n
Lew explained that people could build many new things within the crypto ecosystem, such as stablecoins and nonfungible tokens. \u201cI think clearly it\u2019s going to play some role. Not clear what role it would play,\u201d she added.<\/p>\n
Lew said that it\u2019s important for Columbia Investment Management Company, the firm responsible for managing Columbia University\u2019s $11-billion endowment, to dabble in crypto assets a little \u201cjust so that we make sure that we follow.\u201d <\/p>\n
She stressed that it\u2019s important to ensure that the company has a relationship with people who are developing expertise so that \u201cwe can leverage that expertise to decide which way to go.\u201d<\/p>\n
While crypto is not an asset class that Columbia would invest a lot in at this point due to high volatility and the risks involved, Lew believes that cryptocurrency is one of the roads open for exploration for long-term investors.<\/p>\n