Bitcoin is the number one pick of one stock-draft participant in the final round of the first-ever Crypto Stock Draft at the BlockCon conference in London. “I’m very bullish on bitcoin,” said Mark Jeffrey, founder of the investment management firm Cube Capital, during the conference’s final episode on YouTube Thursday, July 26. “I am expecting it to go through a significant growth spurt as we move forward.”
As the latest crypto news emerges, many analysts are getting more adept at spotting the latest crypto trends. In fact, there is a growing trend of crypto analysts that are getting so good at spotting crypto trends that they are now competing against each other in a stock draft competition. The contest rewards the analyst who chooses the crypto trends that perform best over a 6-month period. And according to one recent report, one of the top picks for the competition is Bitcoin.
Bitcoin was voted number one in CNBC Stock Draft’s annual stock picking contest. Tim Seymour, founder of Seymour Asset Management, believes the government will adopt bitcoin-friendly regulations. He is convinced that cryptocurrencies will take him to the top this year.
Bitcoin was the top pick in the annualstock contest.
CNBC’s annual 2021 Stock Draft contest got underway last week. Ten participants or teams from different professional groups will take part in the competition. Each team makes 2 selections from a list of 60 stocks and other investments.
The teams are led by asset manager Tim Seymour of Seymour Asset Management, professional poker player Maria Ho, Olympic swimmer Ryan Murphy, Kevin O’Leary of Shark Tank (aka Mr. Wonderful) and The Stock Guy Jason Frank. Other participants include mentalist Oz Perlman, supermodel Petra Nemcova, Tiktok star Josh Richards, professional basketball player Andre Iguodala of the Miami Heat and Stephanie Link, chief investment strategist and portfolio manager at Hightower.
Stock Draft 2021 Teams. Source: CNBC
Tim Seymour, Founder and Chief Investment Officer at Seymour Asset Management, won the draw for the best choice in this year’s competition. The last time he was able to make a first-round pick was in 2019, when he selected General Electric.
As an experienced cannabis investor managing the Amplify Seymour Cannabis ETF (CNBS), Mr. Seymour should have picked cannabis stocks first. Still, he chose bitcoin as his top pick this year, indicating:
It wasn’t easy. There is no Trevor Lawrence… but I’m happy to say… no cannabis. I bring bitcoin talent to South Beach. That’s right. Number one choice: Bitcoin.
The winner of the Stock Draft is the person whose stock has the highest average price increase between the closing price of April 29 and the closing price of April 11. February 2022.
As for the bitcoin timeline, which some say seems worrisome, at least in the short term, Seymour said: I’m not worried about the near future, and we’ve seen many setbacks in bitcoin. Although he admitted that he would have gladly bought back $20,000 worth of BTC, he said: The bottom line for me is that we are starting to see a much broader institutional acceptance.
Seymour continued to voice his opinion:
I expect the subsequent administration to be very pro-bitcoin….. will be Bitcoins will take me to the top.
Seymour’s second choice was Tilray, a world leader in cannabis research, cultivation, processing and distribution. Kevin O’Leary, another bitcoin supporter who has 3% of his portfolio in cryptocurrencies, chose Alphabet and Palantir.
Do you think bitcoin will outperform other investments and help Seymour win the Stock Draft this year? Let us know your comments in the section below.
Photo credit: Shutterstock, Pixabay, Wiki Commons, CNBC
Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.
This source has been very much helpful in doing our research. Read more about bitcoin price news and let us know what you think.
btc/usdcoinbasexrp pricecoinmarketcapbest cryptocurrency to invest in 2021bitcoin price,People also search for,Privacy settings,How Search works,best cryptocurrency to invest in 2021,bitcoin price,bitcoin price prediction,bitcoin price news,best penny cryptocurrency to invest in 2021,bitcoin news today,bitcoin options,btc/usd