Running a cryptocurrency business is a difficult journey and not for the faint of heart. However, according to Stephen Ehrlich, co-founder and CEO of Voyager Digital, patience is the key, and in the long run the rewards will come.
Many have invested time and money in developing a cryptocurrency-related business. Reports detailing 2021 show that more than $30 billion in investment has come from venture capital. Erlich told Cointelegraph that these venture capitalists and private companies will definitely be rewarded in the long run for their faith in cryptocurrencies. Moreover, he also believes that investors in public companies will also reap the benefits.
“In 2021, Bitcoin outperformed all major asset classes, outperforming oil, NASDAQ, S&P 500 and gold. Moreover, the number of hodlers has a positive trend, indicating the long-term viability of the cryptocurrency.”
The co-founder of the publicly traded cryptocurrency trading platform also notes that the overall growth of the cryptocurrency ecosystem is manifested in the introduction of benefit programs that allow companies to allow employees to receive a portion of their salary in bitcoin (BTC).
“Such widespread adoption is an incredible sign that people are not only willing to buy and exchange cryptocurrencies, but also willing to work for it. As a society, we are moving in a direction that gives more value to cryptocurrencies.”
When asked if it is profitable to engage in a cryptocurrency business, Ehrlich gladly shared his own experience in his company. “Voyager’s last quarter was our best ever, so I certainly feel like this is a great time for crypto,” he said.
With global inflation reaching new heights and US national debt rising, Ehrlich also believes that “cryptocurrency is becoming more and more of a long-term haven for future generations.”
One of the main advantages of cryptocurrency is that it creates economic equality. The Voyager CEO emphasizes that the cryptocurrency provides access to segments of investors who missed out on past booms. Ehrlich describes the wealth creation opportunity for this sector as “extremely satisfying” as he mentions the huge benefits found in the industry.
Related: IoTeX Co-Founder Urges Crypto Investors to Hold Stocks in Market Conditions
While there are many good things, there are also challenges that crypto companies face. One of them is the regulation and policy of cryptocurrency. However, according to Erlich, most of the difficulties the industry faces are a direct consequence of its success. He notes that:
“With a broader and more comprehensive regulatory infrastructure design specifically for digital assets, the cryptocurrency industry can thrive.”