Bitcoin: A Young Investor’s Perspective
Speculation surrounding Bitcoin’s potential as the “digital gold” for the younger generation continues to divide opinions. A survey conducted previously revealed that despite its higher value, many young Americans still preferred a $1 bill over 1 BTC. However, there are exceptions to this trend. One such exception is Ginger, the 12-year-old daughter of Jason Williams, co-founder and partner at Morgan Creek Digital. In a recent interview with Coinfomania, Williams and Ginger shared their perspectives on Bitcoin and their involvement in the cryptocurrency space.
Ginger’s introduction to Bitcoin came through her father, who himself has a long history with cryptocurrencies. Williams and his partner, Anthony Pompliano, started a crypto mine in 2015/16, initially mining Ethereum with GPUs before expanding to ASIC miners. This experience exposed Williams to various aspects of the crypto industry, including hardware, exchanges, trading, custody, taxes, altcoins, and of course, Bitcoin.
Following their early involvement in cryptocurrencies, Williams and Pompliano went on to co-found Morgan Creek Digital Assets in 2017. Their mission was to raise institutional interest and investment in the crypto and blockchain industries. Their efforts proved successful, as they raised $40 million in a venture capital fund, with the backing of the first U.S. Public Pension funds to invest in the crypto space, as well as a group of institutional investors.
Williams shared that Morgan Creek’s crypto-focused fund has raised about $130 million in AUM (assets under management) to date, with over 30 equity investments in blockchain infrastructure technologies and liquid positions in BTC. However, he acknowledged that the recession and pandemic have posed challenges for raising institutional funds, with only funds that have established relationships finding success.
In terms of the future of Bitcoin, Williams predicts that the price will range between $56,000 and $288,000 by 2024, following the halving event. This is a question that weighs heavily on the minds of Bitcoin investors.
Ginger also shared her thoughts on Bitcoin, emphasizing its importance for the younger generation. While she acknowledges that Bitcoin is currently “unusable money,” she believes it has the potential to become usable and significant in the future. Ginger drew parallels between Bitcoin mining and computers supporting the internet, noting that her friends use digital currencies in popular screen games such as Fortnite and Apex Legends. However, she finds Bitcoin more appealing because of the potential to actually own the items purchased, unlike in-game currencies where ownership is limited.
When asked about other blockchain projects, Ginger admitted that she only knows about Bitcoin at the moment but expressed interest in learning more about other cryptocurrencies.
In conclusion, while the debate about Bitcoin’s potential as “digital gold” for the younger generation continues, Ginger’s enthusiasm and belief in its future value are evident. As a young investor, she sees the potential for Bitcoin to become more than just a speculative asset, envisioning a future where it is used for everyday transactions, including purchasing digital assets in online games.
