There is little reason to doubt the long-term potential of cryptocurrencies because of the current bearish market performance according to Greg Tusar, the former global head of electronic trading at Goldman Sachs Group Inc.
Speaking to Bloomberg, Tusar, who is now the co-founder of Tagor Holdings, a trading firm trying its hand at digital assets, said that there is a similarity between the crypto market and the early days of electronic equity trading which he experienced.
“It feels like being at the early days of trading equities electronically. It’s early stage, there’s a lot of opportunities to build great businesses and have an impact,” Greg Tusar said.
In his opinion, the current challenges facing the crypto industry is the issue of custody and execution of large orders by high net worth individuals. Tusar said a good example of this challenge can be seen in a case where an individual wants to buy $10 million worth of Bitcoin and has no exchange to execute the order.
He described this environment as challenging but expressed optimism that there will be a “longer-term demand for digital assets and helping clients understand the transformative impact of crypto and blockchain.”
Tagomi Holdings Launched In A Bear Market
The crypto trading startup co-founded by Greg Tusar was launched at a time when the crypto market is breaking previous all-time low records and setting new unimpressive ones. However, according to Tusar, the bear market which brings low volatility with it is setting the stage for Tagomi Holdings to grow.
“In periods of lower volatility, tools like those Tagomi provides, which reduce transaction costs, will become far more important,” he said.
Additionally, Tusar suggested that there is little pressure on the startup to deliver at the moment since investors in the project have a long-term view of cryptocurrencies.
Coinfomania also reported last week that Tezos co-founder Kathleen has labeled the constant checking of crypto prices as a job for small minds and instead encouraged everyone to focus on the future potential which the industry holds.
Affiliate: Get a Ledger Nano X for $119 So That Hackers Won't Steal Your Crypto!