Today I was opportune to attend a meetup organized by the Nigerian Stock Exchange (NSE). And present at the meetup were Financial Dignities like Mr. Gbite Oduneye(Cofounder Eagles Global Market), Mrs. Adaobi Ekweanya(MD Anchoria Asset Management LTD), Mr. Dayo Obisan(MD Greenwich Asset Management LTD) and many more.
All the panelist gave a wonderful presentation, which is expected of any professional, however, none of them made mention of Cryptocurrency. So I went ahead to ask for their respective viewpoint on adding cryptocurrency to the portfolios of their investors.
Their answers go does:
- There’s little to no regulation for a crypto asset in Nigeria, so trading it puts investor to large risk.
- it’s quite volatile.
- Stakeholders are looking into regulating cryptocurrency and;
- Millennials are the ones that are more concerned about cryptocurrency.
Going further, I was able to kickstart a Crypto Discussion with Mr. Gbite, who happens to be a committee member of the Securities and Exchange Commission(SEC) on Fintech. The insights he shared with me are mind blowing and worth digesting over and over again.
He said that despite none of the speakers mention Cryptocurrency in their presentation, the crypto market still has more upside than most traditional market. He tentatively emphasized the fact that nobody is making money in the Stock Market at the moment. If you have parents who have stocks, you can go ahead and validate from them.
Even worse are the Insurance Companies. majority of them rarely make an average gain more than 2% of their investors capital.
Mr. Gbite also said that the reason stakeholders have not really been discussing Blockchain is that majority of them don’t know what it is, so they’re still taking time to learn about it.
To him, one of the best option youths have nowadays is to learn about Cryptocurrency. This because derivatives, currency market, and Cryptocurrency are the future, as they now perform better than most Investment Vehicles.
By the way, I must commend Mr. Gbite’s great oratory skills. He speaks fluently and he easily swindles and captures the attention of the audience.
He concluded the discussion by letting me know that cryptocurrency will now be available on their platform(Eagles Global Market) by December 2018. I strongly believe this will inevitably give more Nigerians access to trade the cryptomarket.
Kindly drop your thoughts and opinion in the comment box below.