Dublin, Ireland – The recent Consensus 2023 event held in Austin, Texas, has sparked optimism among asset managers, who see the current market as an opportunity to invest in growth equity and undervalued tokens that suffered during the crypto bear market. Despite the market destruction, Dawn Harflinger, CEO of Lili’uokalani Trust, and fellow crypto investors remain optimistic about the future of the industry. Harflinger compared the market to the infamous “Red Wedding” episode of Game of Thrones, saying she is excited to invest in secondaries and funding rounds of growth stage blockchain companies. Matt Halstead, director of real estate and digital assets for Texas Teachers, and Dan Tapiero, CIO at 10T Holdings, also shared their positive outlook on the industry during the event.
Halstead emphasized the potential of digital assets to be integral to the future of technology, despite their volatility. He acknowledged that market timing is unclear, but believes that the future of digital assets is bright. Halstead and other panelists noted that while valuations have declined, the opportunity in digital assets is multi-faceted and worth gaining exposure to. Tapiero added that the digital asset ecosystem is now broader and deeper than in the past, with assets having lower correlations to bitcoin. He also highlighted the opportunity for institutions to expand beyond bitcoin and invest in discounted altcoins and tokens.
Tapiero stated that increased adoption of digital assets from traditional finance led to valuations being pushed to excessive levels, with asset valuations ranging from 50x to 100x. However, as valuations have come back in line, he believes that the timing is promising for big returns. He emphasized that it is the best time for crypto investing, as long as investors know what they like and what kind of portfolio they want to build.
The Consensus 2023 event brought together industry experts, investors, and entrepreneurs to discuss the latest developments in blockchain and crypto. The event featured discussions on topics such as decentralized finance (DeFi), non-fungible tokens (NFTs), and the impact of crypto on traditional finance. It also highlighted the growing interest in digital assets from institutional investors, who are increasingly looking to diversify their portfolios.
Overall, the event showcased the resilience of the crypto industry, despite recent market challenges. The optimism and excitement expressed by industry experts and investors bodes well for the future of digital assets and blockchain technology. As the industry continues to evolve and mature, it is likely that we will see more opportunities for growth and innovation in the years to come.