Cryptocurrency is Here to Stay: IMC CEO
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Cryptocurrency is Here to Stay: IMC CEO

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Azeez Mustapha

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The President and CEO of Columbia Investment Management Company (IMC), Kim Lew, notes that the cryptocurrency industry is more than what most people think of it and that the industry is “clearly here to stay.”

The investment executive shed some light on her views on the investment potential of cryptocurrency in an interview with Bloomberg Wealth, noting that the industry has several possible directions it could head towards. Lew stated that:

“There are many different avenues that it can go. There are stablecoins, there is NFT’s… there’s just the blockchain, the different layers– people are using it for so many different things.”

She noted that despite its wealth of possibilities, the definitive niche the cryptocurrency industry would fulfill in the future remains a mystery. The IMC boss added that:

“I think, clearly it’s here to stay, I think clearly, it’s gonna play some role…not clear what role it will play. For us, it’s important to dabble a little, just to make sure that we follow, make sure that we have relationships with people who are going to develop expertise, and we can leverage [that] expertise to decide which way to go.”

Despite her optimistic view of the industry, Lew noted that IMC does not hold any cryptos for now, as it is, trying to avoid market volatility. Lew explained that:

“You know there’s a lot of volatility, there’s a lot of risks, which is not something that we’re necessarily getting paid for right now… but for sure we have the ability– because we are long-term investors– to explore new roads. And so cryptocurrency is one of them.”

Institutional Academic Sector Picking Interest in Cryptocurrency

IMC is a subsidiary of Columbia University tasked with the responsibility of managing the educational institution’s assets. That said, Lew’s assertions indicate a growing investment interest in cryptocurrency from the institutional academic industry.

Lew noted that she is open to allotting some funds into the crypto space as it carves a more defined position in society.

 

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