Caitlin Long Speaks on Bitcoin Going Against Financial Turmoil

One of the most veteran wall street professionals in the world, Caitlin Long has recently spoken on the crypto space and whilst speaking to CoinDesk for one of the inaugural episodes of the pop-up podcast, Bitcoin Macro which featured the speakers and themes of the upcoming Invest New York conference on 12th November.

Part of what Long said was:

“To me, it’s an insurance against instability in the mainstream financial industry,” said Caitlin Long, one of the most experienced Wall Street professionals to defect to the crypto space. I think about, ‘What’s the probability that the mainstream financial industry goes poof?'”

She continued:

“That’s how I think about the asset allocation to bitcoin in my own portfolio. Specifically, what I mean by that is it’s the settlement system risk that’s the issue. I’m not talking about price risk. Obviously, bitcoin’s more volatile than most traditional financial assets, but bitcoin is less volatile from a systemic perspective than I think the traditional financial industry is.”

Over the past six months, we have seen a growing conversation between the bitcoin industry and overall larger macro community. 

For Long though, she has over 22-years experience when it comes to professional finance. After twenty of those years, Long started to look into Bitcoin and eventually got sucked into the crypto space and integrates it into her work. For her leadership in Wyoming blazing, a trail for pro-crypto, pro-innovation regulations serves as an example across the nation and even further.

When asked on the podcast whether Bitcoin was a macro asset, Long said:

“Yes. But for a very small niche. It’s uncorrelated. It has obviously very high volatility. It’s not ready for prime time for big institutions just yet.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!