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Dominic Rizzo, the global technology portfolio manager at T. Rowe Price, which manages over $1 trillion in assets, stated that the current price levels for Bitcoin 
$104,180 are quite favorable for investment. Speaking at the Exchange conference in Las Vegas, which gathered approximately 2,000 investment advisors and asset managers, Rizzo noted that the Bitcoin price is currently very close to mining costs. According to him, like traditional commodity investments, this cost level in Bitcoin creates an ideal entry point for investors.
What Does Bitcoin’s Similarity to Commodities Tell Investors?
Rizzo advised investors by comparing Bitcoin’s price movements with traditional commodities. He emphasized that periods when production costs are close to spot prices in commodity investments are generally seen as having limited downside potential. Rizzo believes that Bitcoin is currently at such a point.
Historically, price levels near cost have presented attractive opportunities for investors. Rizzo indicated that Bitcoin’s current status could signal a buying opportunity for risk-averse or opportunity-seeking investors, noting that such periods in the cryptocurrency market have historically attracted long-term investors.
Rizzo pointed out that the proximity of Bitcoin’s mining cost to its spot price creates a price floor. He advised that investors should analyze the current situation well and consider gradually entering Bitcoin.
Currently, Bitcoin’s mining cost is approximately $84,770, while the spot price hovers around $87,000.
How to Invest in the AI and Blockchain Revolution?
Rizzo stressed that blockchain and digital payments are key components of the AI revolution. He noted the swift transition from cash usage to digital payment methods globally, asserting that blockchain technology lies at the heart of this transformation. He argued that investors must include blockchain-related investments in their portfolios.
Rizzo mentioned that there are options for blockchain investments beyond Bitcoin, highlighting stocks of companies like Coinbase and Robinhood, as well as shares of cryptocurrency mining companies as significant investment vehicles.
He noted that the development of AI would grow parallel to blockchain technology, urging investors to pay attention to these areas. He concluded by stating that investments in digital payment and blockchain sectors would play a decisive role in the future of financial technologies.
