The co-founder of the crypto derivatives exchange Hxro says he’s accumulating several crypto assets during the market downturn.
In a new episode of Delta-Fi, Rob Levy says he’s not concerned about nailing the exact bottom of the crypto correction.
As the markets search for direction, Levy says he’s accumulating Bitcoin, Ethereum, the relatively new smart contract network Solana (SOL), as well as FTX Token (FTT), the native token of the crypto exchange FTX.
“I want to own the stuff that’s going to best perform. And I’m going to keep adding to it…
I was happy to add to Bitcoin at $45,000… It’s such a longer game to me. You don’t want to get washed out by the noise. What do I think is going to be around? I think Ethereum, people are just getting hip to it…
We’re still at that stage where people are getting in… I’m adding to my key positions. Bitcoin Ethereum, Solana, FTT I think is an absolute no brainer.”
Levy says FTT, in particular, may scare some people since its price remains 20 times higher than it was during the last bear market, even after the large dip.
“Let’s talk about FTT. Let’s say it’s $27, so it’s 20 times higher than where you were buying it. What has their user number done? What has their volume done? Their burns have grown by 100x. If all of that is up more, then it makes me feel better. It’s a different product.”
The crypto derivatives exchange executive cautions that Bitcoin and the market as a whole could still move much lower.
“We could easily go down to $20,000 again. You can protect yourself. You don’t have to be all in all the time. Being all in in spot coin, that technically shouldn’t hurt you unless you have to sell for liquidity.
One Bitcoin is one Bitcoin. If you think it’s going to be way higher in the future and you don’t have to sell it, there’s no problem there.”