Crypto Price Prediction: Bitcoin at $ 70,000, XRP, Ada Outlook: Matteo Perruccio

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Matteo Perruccio is a heavyweight in the investment industry with over 30 years of experience in traditional finance. He is now the international president of Wave Financial, a billion dollar crypto asset manager for the ultra rich. He shares his bullish outlook for 2022, including how 2 controversial protocols could see a significant rise next year.

Over the past year, Wave Financial, a crypto-wealth manager for the ultra-rich, has doubled its assets under management to over $ 1 billion.

Part of that growth has come from a deep dive into international markets, and Matteo Perruccio, president of international for the company, is leading the way.

Prior to making the leap into crypto, Perruccio’s career in traditional finance spanned 30 years, including as Global Head of Key Clients and Strategic Relations at Jupiter Asset Management, as well as Managing Director of Olympia Capital Management, a fund of hedge funds.

A light bulb went off for Perruccio when he compared crypto innovation to both the rise of the derivatives market and alternatives within hedge funds.

“I remember the very first conversation I had with people about hedge funds, you know they were like, ‘You can’t have absolute return, they’re all scammers’,” Perruccio said. “A very similar story to the one I have heard whenever I have mentioned crypto and digital assets to my colleagues, and of course in any innovation there is fraud.”

When Perruccio looked at it in a more holistic way, he was able to see the opportunities in the market and sought to move into space. Wave Financial ticked all the boxes as the first regulated crypto asset manager in the United States, which seemed like a good compromise for its background in traditional finance.

“For me, that was the perfect partner … so I joined as president of the international to help drive growth outside of the US and grow the business,” he said. he declares.

Matteo Perruccio, International President of Wave Financial Wave Financial

Perruccio expects the next wave of crypto adoption to arrive for investors looking for specialist wealth managers, especially in international markets like Switzerland.

Previously, investors turned to Wave Financial to gain some crypto exposure with leading currencies, but now the demands are increasingly specialized in different pockets of the crypto market.

“People say, ‘How do I get thoughtful exposure to the evolution and revolution in DeFi? ” “, did he declare. “And it’s not an easy thing … the actual investment process, where to hold it and all that, and the counterparty risk is also quite complex.”

The renewed interest in the company’s active NFT and VC funds demonstrates this, he said.

Perruccio expects this next wave of institutional adoption to place crypto for a significant rise in 2022 against a difficult backdrop for equities and fixed income.

“I’m personally pretty bearish until 2022 for stocks… and it’s about where to invest your money elsewhere,” Perruccio said. “If we can get negative real returns on fixed income?” Where do you put your money? “

Perruccio predicts that 2022 will be the year that a bitcoin exchange could hit the market in the United States. He also expects more players to follow Citi’s recent announcement of a digital asset division for institutional clients.

“Things are starting to move, and I think 2022, hopefully I’m right, will be the year we see it happen,” he said. “We will get approval from the banks to hold cryptos in many markets. We saw that India was going to announce regulations … So I think a lot can happen.”

But even with the trajectory that appears solid for 2022, Perruccio is taking a cautious approach to its outlook for the markets.

“First of all, I don’t trade crypto, and there is a lot of money to be made by trading crypto, but what I buy I buy because I believe in its medium-sized outlook. and long term, ”Perruccio said. “So I’m a HODLer. “

While several industry signals suggest bitcoin could erupt towards the end of this year, most industry experts believe it will not hit $ 100,000 by the end of the year, did he declare.

“I expect he starts a bull run, could hit $ 70,000 to $ 80,000, something like that, by the end of the year, but I think we’re getting into a while. positive, ”Perruccio said.

Further down, he expects bitcoin to hit $ 125,000 by the end of 2022, but it won’t necessarily be a smooth journey.

“What I’m telling my friends and family is to be exposed to this space, to understand that it’s very volatile, so don’t commit capital that you can’t afford to use. over a shorter period, ”Perruccio said. “But I think the overall trajectory is upward over the next five years.”

Beyond bitcoin, he sees momentum for two more controversial protocols, Ripple (XRP) and Cardano (ADA).

Ripple is the native token of RippleNet, a blockchain-based payment network launched in 2012. In 2020, Ripple was accused by the SEC of illegally raising $ 1.38 billion in unregistered securities offers. The case is still ongoing.

“Also keep in mind that there are rumors going around about his conversations with the SEC, and all of it on a positive note,” Perruccio said. “If that happens, you can expect it to happen quite aggressively. “

Cardano, on the other hand, is controversial because it is more centralized and has foreground leadership, which goes against some of the fundamentals of decentralized cryptocurrencies.

“I think cardano has fantastic upside potential. It’s a great organization and it’s a great protocol,” he said.

Perruccio suggests that there have been innovative developments stemming from cardano, as well as interesting work in the digital identity space.

“But we see him as very high quality programmers and a community,” Perruccio said.

In a note, Perruccio’s colleague, president and managing partner Ben Tsai said he expects cardano to be the top performing layer one altcoin in 2022 and has a more bullish prediction than bitcoin. will reach $ 200,000 by the end of next year.

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