Bitcoin Is Number One Pick — Asset Manager Confident BTC Will Take Him ‘to the Top’ in Stock Draft Competition – Bitcoin News

At CNBC’s Stock Draft, an annual stock-picking competitors, bitcoin was the primary choose. Tim Seymour, the founding father of Seymour Asset Management, believes that the authorities will come out with laws that assist bitcoin. He is assured that the cryptocurrency will take him “to the prime” this 12 months.

Bitcoin Was Top Pick at Annual Stock Picking Competition

CNBC’s 2021 Stock Draft, an annual stock-picking competitors, started final week. There are 10 contestants or groups of various professions. Each staff makes 2 picks from a listing of 60 shares and different investments.

The groups are led by asset supervisor Tim Seymour of Seymour Asset Management, skilled poker participant Maria Ho, Olympic swimmer Ryan Murphy, Shark Tank’s Kevin O’Leary (aka Mr. Wonderful), and “The Stock Guy” Jason Frank. Also competing are mentalist Oz Pearlman, supermodel Petra Nemcova, Tiktok star Josh Richards, skilled basketball participant for the Miami Heat Andre Iguodala, and Chief Investment Strategist and Portfolio Manager at Hightower Stephanie Link.

Stock Draft 2021 groups. Source: CNBC

The founder and chief funding officer of Seymour Asset Management, Tim Seymour, received a drawing to make the first choose for the competitors this 12 months. The final time he bought to make the first choose was in 2019 when he picked General Electric.

As an skilled investor in the hashish area who manages Amplify Seymour Cannabis ETF (CNBS), Seymour was anticipated to select a hashish inventory first. However, he selected bitcoin as his prime choose this 12 months, stating:

It wasn’t straightforward. There’s no Trevor Lawrence on the market … [but] I’m glad to say … no hashish. I’m taking the bitcoin skills to South Beach. That’s proper. Number one choose: bitcoin.

The winner of the Stock Draft competitors will likely be the one whose shares have the highest common worth appreciation between the closing worth on April 29 and the shut on Feb. 11, 2022.

Regarding the bitcoin chart, which some say appears to be like “troubling not less than in the close to time period,” Seymour replied, “I’m not fearful about the close to time period and we’ve seen a number of pullbacks in bitcoin.” While admitting that he would have beloved to have purchased BTC at “$20K in the past,” he stated, “the sense for me is that we’re beginning to see a lot broader institutional adoption.”

Seymour additional opined:

I count on a coverage to observe by means of that’s going to be very supportive of bitcoin … Bitcoin goes to take me to the prime.

Seymour’s second choose was Tilray, a world chief in hashish analysis, cultivation, processing, and distribution. Kevin O’Leary, one other bitcoin proponent who has 3% of his portfolio in the cryptocurrency, picked Alphabet and Palantir.

Do you assume bitcoin will outperform different investments and assist Seymour win this 12 months’s Stock Draft competitors? Let us know in the feedback part beneath.

Image Credits: Shutterstock, Pixabay, Wiki Commons, CNBC

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