The new cryptocurrency editor at Banyan Hill Publishing, Ian King, sets the record straight on a number of digital currency issues.
The Jersey Shore native entered the workforce as a lifeguard, being appointed captain when he was 19. He attributes the formative training that would lead him to his success in investing to those early days of performing rescues. King notes that some days there would be as many as 50 or more lives saved by his team adding that it was critical to be a quick thinker with decisive and effective follow through.
While in college, he studied Psychology and traded tech stocks during the dot com era. The skills learned from the combination of those disciplines helped him understand that the stock market activity is the aggregation of individual psychologies.
Ian King’s first financial job was as a desk clerk at Salomon Brothers in the now famous mortgage bond trading division. He later became the head trader of Peahl Capital’s hedge fund.
It was King’s next venture that would reorient the direction of his professional career into the world of cryptocurrencies. Assessing the immense potential of the burgeoning crypto markets, he formed his own business, focusing on providing financial advisor and education services to crypto investors.
At the time of King’s entrance into the digital currency market, libertarian-mindedness and cryptography savvy were the primary characteristics shared by its investors.
Since the 10 years that have passed following the release of the disruptive digital currency, peer to peer white paper by the pseudonymous Satoshi Nakamoto, the cryptocurrency market has assumed an informidable position in the financial currency exchange market across the globe. Read more on investopedia.com for more info.
Mainstream financial institutions are recruiting experts in the blockchain and smart contract technologies that underlie cryptocurrency transactions.
The subject dominates the conversations of Wall Street kingpins, who are also the digital currency’s biggest critics. As their portfolio managers acquire third party financial instruments such as the bitcoin exchange-traded notes (ETNs) purchased by JP Morgan in the third quarter of 2017. This followed Jamie Dimon, the firm’s CEO, denouncements of bitcoin as a “fraud.”
Pointing to his financial basis for considering cryptocurrencies worthwhile, King notes that the same elements that make an investment worthwhile are all present in cryptos. The technical indicators in terms of increasing volume are strong, the limited supply of bitcoin diminishes the risk of dilution to future investors and the technology solves real world problems for which there is increasing innovation and growing demand.