Veteran investor Fam Mirza states he has finally approved of Bitcoin.
Fam Mirza operates in an arena, unlike other entrepreneurs. His motivation to build brands is rooted in the idea that he can genuinely change the world. Whether the change is making the world a better place like his wildly successful social good brand, 1:Face or the development Podwand by This Cleans, which is a product used to safely and efficiently clean Apple’s Airpods, Fam Mirza prides himself in his creative approach to solving problems.
Mirza is both the Creative Director and CEO of Mirza Minds, the product design, and brand firm in Los Angeles. Mirza Minds is responsible for several first to market consumer products that changed the way consumers make decisions, consume media and buy products. Mirza marches to a beat that only he and his team hear. While his brands have earned tens of millions of dollars over his entrepreneurial career, there is no evidence that Mirza will be slowing down soon.
While much of his expertise derives from his product design and branding background, his understanding of markets and overall demand gives him a thorough understanding of the volatile investment markets, including the popular exploration of cryptocurrency.
“I do not believe in Bitcoin until there is adoption in the market. The big players will need to utilize this currency before we can actually see growth, not just hype.” Mirza says in early 2017.
His prediction became a reality in 2018 when bitcoin crashed and nearly 430 billion dollars all but vanished out of the market. Mirza’s view on Bitcoin has changed over the last several months as major players, like Facebook, are joining the cryptocurrency conversation.
“Bitcoin is more versatile than any other asset, its completely in your control unless they put a gun to your head and get the private key,” Mirza says.
With talks of an impending recession, consumers are looking for a safe and viable option to invest their money to protect their assets.
“Bitcoin is the only option for storage of value and volatile asset.” Mirza states. “The government can’t touch your Bitcoin like that can touch your other assets.”
With Facebook to launch its own cryptocurrency coin called Libra in 2020, the economic revolution that cryptocurrency has yet to fully deliver is starting to take root. As large retailers start to adopt bitcoin as a form of payment, cryptocurrency may soon reach the level of widespread acceptance and usage that investors and consumers hoped for when Bitcoin launched in 2009.
“Cryptocurrency is limited in quantity and increasing in demand especially with Apple Card coming and Libra. It makes it way more accessible since they’re giving all their users wallets.” Mirza states.
Around the world, there are the cryptocurrency critics that believe there is no sustainability in Bitcoin because of its volatility. “I think Bitcoin, and the entire cryptocurrency space is too confusing for many potential investors.” Peter Tchir states. “Cryptocurrencies, which I think rely heavily on new users adopting it, scare away investors who think critical mass will be a key to ongoing success. Tchir continues.
Mirza was once a critic of the cryptocurrency market for many of the same reasons but with the adoption of many large retailers and other venture capitalists joining the cryptocurrency space, Mirza’s optimism has shifted. “There is no other asset like Bitcoin. It is the only storage of value and volatile, more reward opportunities. No other asset like that.” Mirza states.
There are several cryptocurrencies to invest in; Bitcoin, Litecoin, Ripple and many more. Some are safer than others and some have much more potential than others. Mirza truly believes that Bitcoin will soon be considered “digital gold” and will lead us to a revolution that takes the world’s financial control out of the hands of central banks and accredited investors.
Berkshire Hathaway CEO, Warren Buffet said in February of 2019, “It doesn’t do anything. It just sits there.” But as the “big boys” start to become involved in cryptocurrency, Bitcoin will begin to do something and something very big in the financial market.
Fin.
