Trends with Benefits
Trends with Benefits #42: Cryptocurrencies with Charles HayterEd Lopez, Head of ETF ProductJanuary 27, 2021
In this episode I speak with Charles Hayter, co-founder of CryptoCompare about the cryptocurrency ecosystem and the pricing and indexing of cryptocurrencies.
Eye of the Bit-Holder
Charles is what I may call an early adopter when it comes to cryptocurrencies. Recognizing the potential of the space and the need for investors to access real-time and reliable pricing data on the burgeoning world of cryptocurrencies, he left his equity research analyst job to help start CryptoCompare in 2014.
I was interested in learning about his background, particularly as he came from the traditional finance world, and how he came to see the promise of cryptocurrencies.
If you're just beginning to explore the space, perhaps by venturing into bitcoin, you will have noticed that there are any number of places to buy and sell bitcoin, different exchanges around the world and that bitcoin trades 24 hours a day. You may have also noted that at any given time, there are variety of different prices for bitcoin, depending on exchange. One can imagine then the complexity of trying to create an index to reflect the "true" price of bitcoin.
Charles and I discuss how CryptoCompare evaluates and scores exchanges, adjusts for time zones and manages pricing when exchanges go down. There are actually a number of different bitcoin indices that CryptoCompare offers. Ultimately, the "true" price of bitcoin may come down to who’s asking and the relevant markets and use case for them.
Trend or Fad
Listen for Charlie’s take on mobile sports betting, wellness, video gaming and podcasts.
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The views and opinions expressed are those of the speaker(s) but not necessarily those of VanEck. Commentaries are general in nature and should not be construed as investment advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Any discussion of specific securities/financial instruments mentioned in the commentary is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary. All indices mentioned are measures of common market sectors and performance. It is not possible to invest directly in an index. Information on holdings, performance and indices can be found at vaneck.com.
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