Wednesday, August 3, 2022
Crypto prices plunged this year, but Drew Larsen says that is no concern.
Over the past two years, Mr. Larsen, 54, has poured about 10% of his savings into cryptocurrencies like bitcoin, Ethereum and solana. He believes it is a smart hedge for his investment portfolio, the rest of which is in real estate, stocks and bonds. But more than that, he feels a deep connection to the idea of digital assets, which makes the pain of bitcoin’s plunge this year a lot more bearable.
“I actually do think it has the potential to save the world,” said Mr. Larsen, a founder of two software companies who now lives in Colorado with his family. So far, his crypto holdings have lost about 40% in value this year.