Since Gemini launched in Australia in 2020, it has become the platform of choice for a growing number of high-net worth individual and retail investors, including Matt Rockman, co-founder of SEEK.com, Chairman of 1010 Capital and board member of Genesis Capital.
Like many investors, Matt is cognisant of the debt burden and fragility in our financial system, and views cryptocurrency as a financial system 2.0 and a hedge.
“I lost faith in the system and am looking to invest outside the system. Central Bank aggressive actions have undermined fiat currency. My crypto investments are there as a hedge.”
Genesis of Matt Rockman’s crypto journey
Matt first purchased Bitcoin in May 2020 when it was priced at $10,000 and later diversified into Ethereum, when it was at around $500-700.
His crypto portfolio mix is 50:50 Bitcoin:Ethereum, and makes up 3% of his entire investment portfolio. Although this can change as the value of the asset changes.
For Matt, crypto is more a store of value rather than a means of exchange.
He describes himself as a strategic long-term crypto holder rather than a trader, and only sold a small amount of bitcoin when it hit $65,000, moving the investment into Ethereum.
“So far I got part of that trade right as I bought low and sold a little at the high point.”
While Matt likens this type of investment to owning gold, he says crypto probably has some hallmarks, and a similar risk profile, to venture capital investments.
“It feels like a hybrid asset class. Crypto has venture attributes while also having equity and currency attributes – it’s characteristics are quite new.”
Matt Rockman recommends the Gemini platform
Finding the right trading platform is an important part of an investment strategy.
“It’s important to have trading and storage security. The bigger platforms like Gemini will have high functionality and production innovation, and security has to be a key consideration.”
Matt began using Gemini as his trading platform in December 2020, after he reached out to the company’s APAC Managing Director Jeremy Ng on LinkedIn.
He chose Gemini for three reasons.
“I have great respect for the founders, the Winklevoss twins, as well as their vision and capability. Secondly, Gemini is a serious and mature platform with a high level of expertise.”
“It offers a ‘white glove’ service and support levels for the semi-institutional high-net-worth market. They help in the onboarding process with a high level of account management.”
Gemini currently holds $AUD39 billion in crypto under custody.
As Gemini establishes itself as a leader in the APAC crypto landscape and as crypto increasingly becomes a staple of the global financial system, its rapid growth at its Singapore headquarters will pave the way for satellite offices throughout APAC, including in Australia.
Investors use the platform to buy, sell, store, and earn from a selection of cryptos, with their funds secured by advanced proprietary cold storage systems or held in insured hot wallets.
Users have access to a variety of crypto products like the ActiveTrader platform, which provides traders with the tools they need to implement sophisticated crypto trading strategies.
Matt Rockman’s tips for potential crypto investors
If you want to understand crypto, dip your toe in with a small amount that you can afford to lose. Investing will increase the level of engagement as you will learn a lot quickly.
Go into crypto investing with your eyes open, understanding that it is a highly volatile asset, and you should be willing to lose it all. It’s not beyond the realm of possibility that the price goes to zero if legislation is introduced or a big hack occurs.
Form your own views, educate yourself as an investor, and push through the noise. There are super credible bulls and credible bears in the market, but you need to form your own view on whether you think there’s risk in the financial system and if this asset solves that in part.
Try to avoid following a ‘quick buck’ mentality. Even though some people have bought large assets with crypto, that’s generally not sensible investing.
For anyone who asks me if it’s too late to begin investing in bitcoin, I think the price will continue to grow over the long term. This is the reason I am holding.
It is important to find the right exchange platform, with strong trading and storage security. The bigger and better platforms like Gemini tick these boxes.
