The cryptocurrency boom currently taking Wall Street by storm is a worry to some of the world’s leading investors including former hedge fund manager, Paul Mampilly. from members of the Royal Family of Saudi Arabia to some of the leading financial specialists in Europe and North America, Bitcoin has been classed as a white elephant by many who believe the value of cryptocurrency will eventually nosedive to limit the success of the cryptocurrency in a way that replicates the tech shares crash of 1999.
Paul Mampilly is best known for his time spent as the head of the Kinetics Asset Management hedge fund which saw a 26 percent return on investment during the period of his tenure with the fund beginning in 2006. Although he has stepped back from the day to day schedule of investing, Paul Mampilly still remains an active specialist who provides advice for millions of people around the world about the opportunities open to them in building a successful future for themselves through the financial markets.
In the last few years, Bitcoin has been one of the most commonly discussed subjects between Mampilly and those who look to follow his advice about their financial future. Some of the most diehard fans of the advice of Paul Mampilly have stated he should be investing in cryptocurrencies but the man who once curated the investment portfolio of the Royal Bank of Scotland believes the cryptocurrency boom will not continue to provide as much success in the coming months. Paul Mampilly believes the stunning success of Bitcoin which recently saw the currency valued at over $19,000 per coin will soon suffer the kind of crash not seen since the 1999 technology shares crash.
Although he is not a follower of the cryptocurrency bandwagon, Paul Mampilly does believe those who have invested in Bitcoin and other cryptocurrencies will reap rewards if they realize the boom will not last for the long term and limit their plans to a short-term investment. In 1999, Paul Mampilly attempted to warn friends, family, and clients of the potential problems of investing in the tech industry for the long-term and instead warned many to follow his own actions in dropping tech sector shares from their portfolio. Paul Mampilly has been proven correct in many of his warnings and pieces of advice regarding the success and failure of specific investment opportunities.