Insightful contribution from Holon’s Managing Director, Heath Behncke in an article about the meltdown of stablecoin terra. It’s all about perspective, and seeing the opportunity in any situation. ‘Time to invest’: Crypto fundies see market crash as buying opportunity – May 13, 2022 — 3.26pm. An extract is below, the full article can be found here.
Some of Australia’s largest digital asset fund managers have brushed off concerns over the grim state of cryptocurrency markets, saying instead that the massive plunge in prices means it’s a good time to buy.
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Heath Behncke, founder of asset manager Holon, said the volatility of stablecoins served as a good lesson for new market entrants over “what’s stable and what’s not”. Like Andersson, his digital asset fund is also viewing the current slide as a good time to buy.
“We are adding to our Web3 position, no doubt about that,” he told The Age and The Sydney Morning Herald. “There looks like some overreaction to the downside, so I think there’ll be some good opportunities that will be presented there.”
Behncke is also hopeful the recent market shakeout could accelerate the rate of further crypto regulation both in the US and locally.