Seminar advises local investors on the pros and cons of digital assets

WEDNESDAY, JULY 31, 2024

Thailand’s digital asset experts are urging local investors to position themselves for a bull market, emphasising that now is the ideal time to invest in alternative assets.

They shared their insights during a special seminar last week hosted by Gulf Binance, Thailand’s leading digital asset exchange and brokerage platform, at Q Stadium on the M floor of the EmQuartier shopping complex.

The event, titled “Binance TH Super Meetup: BULLiever”, updated attendees on investment trends and offered guidance on effective portfolio management for the second half of the year. Executives from leading investment channels and industry professionals were among the speakers

According to the experts, the first half of 2024 was marked by several significant developments in the digital asset market. These included the US Securities and Exchange Commission’s approval of Spot Bitcoin ETFs which drove Bitcoin (BTC) prices to record highs. They also pointed out that the latest Bitcoin Halving, a quadrennial event, led to a substantial decline in Bitcoin’s value.

Korn Poonsirivong, chief strategist officer and Binance Academy director at Gulf Binance, explained that the cryptocurrency market is characterised by cyclical price movements, with Bitcoin serving as a prime example. Bitcoin Halving typically occurs after market peaks, and this pattern has persisted for the past four instances.

Korn Poonsirivong

“I believe the recent halving has made Bitcoin more affordable, presenting an attractive opportunity for investors to consider it as an alternative asset," he noted.

Buris Jiramakorn from Enter to Start highlighted the growing involvement of global financial institutions in the digital asset market, driven by the official approval of Spot Bitcoin ETFs. This has enhanced the credibility and accessibility of digital assets, he said.
 

Geopolitical events have also underscored the importance of portfolio diversification beyond traditional assets. With a clear regulatory framework in place, the digital asset market is expanding rapidly, and the recent recognition of Spot Ethereum ETFs by the US Securities and Exchange Commission is further bolstering industry confidence.

Buris Jiramakorn

The upcoming US presidential election in November is expected to influence market dynamics.

However, Bitcoin is not the only compelling option.

Peeraphat Hankongkaew from Cryptomind Advisory emphasised the innovative nature of Memecoins, which are deeply intertwined with the emotions of the digital asset community.

“If you’re considering investing in Memecoins, it’s essential to thoroughly understand the underlying community. Market knowledge, sound financial management and a keen assessment of community strength are crucial factors in determining the value and volatility of Memecoins,” he emphasised.

Beyond Bitcoin and Memecoins, the digital asset landscape offers a diverse range of opportunities. Real World Assets (RWAs), while still in their early stages, are expanding rapidly. Tokens such as SocialFi and GameFi remain affordable and hold significant potential for future growth.

Seminar advises local investors on the pros and cons of digital assets

Effective portfolio management is crucial for navigating the digital asset market.

While many investors are new to this asset class, risk diversification is a fundamental principle.

Kawin Suwantragul, owner of TarKawin page, and Yossaran Pichiansoontorn, co-founder of DekFinance page, advocated for Dollar-Cost Averaging (DCA) as a strategy to build wealth and security over the long term.

Jirapat Bosuwan, owner of Fun Manager page, emphasised the ongoing growth of the digital asset industry, driven by the entry of major financial institutions. He recommended that investors allocate 3 to 5% of their portfolios to digital assets, despite their inherent risks.

To maximise investment returns, Jirapat stressed the importance of sound financial management and a comprehensive understanding of different asset types to align investment strategies with individual risk tolerances.

Seminar advises local investors on the pros and cons of digital assets