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Bitcoin (BTC-USD) rebounds from the pricing pullback the cryptocurrency saw over the last two days, the coin now back trading above $100,000. Innovating Capital founder and general partner Anthony Georgiades joins Catalysts with Seana Smith and Alexandra Canal to discuss his outlook on bitcoin and the crypto space.
Georgiades explains he's more bearish than some on crypto: "We're seeing obviously a lot of risk on sentiment. Things are priced to perfection ... It's not to say that I am skeptical or anti [to] the crypto progressive regulation that we're seeing, but I think it's one of those things where we need to be careful what we wish for with respect to things like a strategic reserve and certain legislative oversight."
He says that while Innovating Capital is a long-term bitcoin holder, "I do think that the market has priced in a lot of the positive catalysts over the last several months, and there's still a lot of risk on behavior tied to bitcoin as an asset," highlighting the crypto asset's downward moves.
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"Generally speaking, I think the market's priced in a lot of potential friendly regulation and the probability of certain catalysts like a reserve taking place, whereas frankly speaking, the underlying fundamental behavior for a lot of that to actually make its way and permeate through the market, it's going to take years," Georgiades.
Watch the video above to hear more about Georgiades' concerns about XRP (XRP-USD) and Ripple's RLUSD (RLUSD-USD) stablecoin.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Naomi Buchanan.