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Impact of crypto still years out, T. Rowe Price’s head says

April 30, 2021. Summarized by summa-bot.

Compression ratio: 53.2%. 1 min read.

“We have some research going on around it,” the CEO of T. Rowe Price said of crypto.

Although the crypto space has been around for more than a decade, William Stromberg, CEO of mainstream investment management outfit T.

"It's early days,” Stromberg told the Baltimore Business Journal in an interview when asked if “T.

Rowe Price will ever start investing in cryptocurrencies. ”

A growing number of avenues also exist for exposure to crypto assets via traditional financial products as well, although the opportunities are not as diverse, as opposed to interacting directly with specific cryptocurrencies.

“It really truly is early, early days here so I would expect this to move at a good pace but take years to really unfold," Stromberg added in his response to the Baltimore Business Journal’s question on crypto.

Stromberg’s crypto comments came after the CEO discussed the overall financial landscape of American markets, for which he sees a positive future.

Although in general crypto is not technically tied to any specific region or government, its price action can arguably be influenced by certain events, based on the price crash Bitcoin suffered during March 2020 around COVID-19 concerns, however some debate exists on the subject.

by summa-bot

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