Hedge Fund Expert: Bitfinex Hack Shouldn’t Deter Big Investors

Following the devastating breach at Bitfinex, the CEOs of Vanda Securities and BitX sat down with CNBC for an interview. They both agreed that there is nothing wrong with bitcoin.

Also read: Forex Expert: Bitcoin Should Be Taken More Seriously

Vanda Securities CEO Would Personally Invest in Bitcoin Even After Bitfinex Hack

Jason Ambrose
Jason Ambrose

Jason Ambrose is the CEO of Singapore-based Vanda Securities, an independent research house that provides tactical macroeconomic and investment strategy analysis to institutional investors and hedge fund managers. Formerly Head of Equity Trading at Ferox Capital LLP, Ambrose was previously an equity trader at Merill Lynch and JP Morgan before serving as a managing director at Morgan Stanley.

After discussing the breach at Bitfinex, when asked whether he would personally trade bitcoin, he answered without hesitation, “Personally, I would.” On the other hand, he added that he would not recommend bitcoin to his institutional clients simply because “we don’t see the interest there yet.” However, he also said that the interest “will come” in the future.

“It’s [bitcoin] like an emerging market. This is a new product. This is a new currency. It comes with inherent risk,” Ambrose told CNBC. “There

Read more ... source: TheBitcoinNews