Despite recent market turbulence, 21Shares President Duncan Moir says crypto assets, including Bitcoin and Dogecoin, continue to offer valuable long-term diversification and are gaining momentum as legitimate components of investor portfolios.
Speaking on CNBC Monday morning, Moir addressed both the macro backdrop affecting Bitcoin (BTC) and the firmโs launch of a Dogecoin (DOGE) exchange-traded product in Europe.
Moir stated the volatility striking crypto has been more subdued than some may think, given the scale of macroeconomic shocks affecting other markets. Rather, volatility in the crypto is โjust moving in line with broader assets.โ
He pointed out that Bitcoinโs long-term volatility has been decreasing, particularly as more institutional allocators enter the space. In fact, we are at a point where โvolatility for Bitcoin that is on par with equities,โ he added.
While critics argue that Bitcoinโs behavior during inflationary spikes undermines its hedge status, Moir disagrees.
โThe inflation hedge argument is still very much there,โ he said. โBitcoin has a fixed supply, and we expect it to continue to be seen as a store of value by new investors coming into the market.โ
Dogecoin ETP timing
Moir also addressed 21Sharesโ recent launch of a Dogecoin ETP in Europe, a move some questioned due to the meme coinโs historic volatility and unconventional origins. Moir defended the decision as both strategic and timely.
โDogecoin has particularly interesting properties,โ he said. โIt started as a fun social token with perfect product-market fit, but itโs evolving toward a global payments currency. Weโre seeing real use cases by large corporates now.โ
He added that the ETP, which enables investors to access Dogecoin through a traditional financial product, is aimed at long-term holders, not short-term speculators.
โWhether it was an up market or a down market, it didnโt really matter to us,โ he said. โWe want to make crypto investing as easy as buying a stock.โ
Moir emphasized that 21Sharesโ Dogecoin product is the result of a rare, officially endorsed partnership with the Dogecoin communityโsignaling growing institutional interest in the sixth-largest cryptocurrency by market cap.
โWeโre really excited about this partnership because itโs highly unique,โ he said. โYou do not usually see these sorts of officially endorsed and exclusive arrangements.โ
