We May Not Invest As Crypto As It’s Still In ‘Early Days’ – CEO of $1.5 Trillion Fund Manager

The CEO of a fund management company has said that crypto is still in its early days. According to Bill Stromberg of T.Rowe Price Group, crypto still has a long way to go.

Speaking in a recent interview with the Baltimore Business Journal, the CEO touched on several topics, including the coronavirus pandemic and whether or not his company was looking into investing in cryptocurrencies.

According to Stromberg, the company can’t make a decision now because crypto is still nascent. He admitted that the T.Rowe Price Group is currently doing some crypto research and noted that a handful of companies allow people to buy and own cryptocurrencies. Regardless, he hinted that the company might not invest in the sector for another few years. He said:

“It really truly is early, early days here so I would expect this to move at a good pace but take years to really unfold.”

The CEO also gave his two cents about the stock market and its current rally. Stromberg says the rally is not surprising, especially when the preceding bear market is considered. He, however, believes that we’re far into the rally now, possibly suggesting that it could end.

“I would say we’re at least midway through this run because it’s been underway for about a year now…time will tell.”

As of January 31, the T.Rowe Price Group’s assets under management (AUM) hit $1.46 trillion.

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