FOX Business Host Charles Payne Says Bitcoin Is ‘On Fire’

Last Friday (December 18), former Wall Street analyst Charles Payne, who is the host of Fox Business Network (FBN) show “Making Money With Charles Payne“, said that Bitcoin is on fire following an interview with Flori Marquez, Co-Founder and SVP of Operations at BlockFi.

BlockFi was founded in 2017 by Zac Prince and Flori Marquez with the aim of “providing credit services to markets with limited access to simple products like a savings account.” BlockFi “sets itself apart from other cryptoasset service providers by pairing market-leading rates with institutional-quality benefits.”

This independent lender is backed by investors such as Valar Ventures, Galaxy Digital, Fidelity, and Coinbase Ventures. BlockFi has offices in New York, New Jersey, Poland, and Argentina. Its main crypto custodian is Gemini Trust Company, LLC, which is a New York trust company regulated by the New York State Department of Financial Services (NYDFS).

Payne started the interview by asking Marquez if it’s time for Bitcoin to “become a staple of every investor’s portfolio” and if the current Bitcoin bull run is really different from the one in 2017.

Marquez replied:

“Absolutely. I think the key takeaway for this recent price movement, which is different from other rallies that happened in 2017, is that this is driven by institutional investors.

“So [what] we’re starting to see is that institutions are starting to use crypto for treasury management and you’re seeing that from companies like PayPal and Square, and it’s huge because that means that institutional investors are starting to allocate Bitcoin into their portfolios alongside stocks and bonds, and it’s incredible for the space, and I think it means that the prices that we’re seeing here will be sustained because you’re seeing fundamental investors making that bet.”

She later added:

“We’re just at the beginning, and something that I tell my employees and customers all the time is that until you can get into an Uber or you’re checking out at your grocery store and the person that you’re interacting with knows what crypto is and owns a little bit of it, we’re still in the very very early stages of this technology, and I think it’s a great time to start getting interested in the asset class and start using companies like Coinbase or BlockFi to get your first entry point into Bitcoin.”

Marquez also talked a little about BlockFi and how her company’s products can help investors:

“So, one of our most exciting products is the fact that you can connect your bank account to BlockFi and give us cash and start earning 8.6% on cash and that’s not using Bitcoin yet.

“So, we offer that product, and we also offer interest accounts, where you can earn interest on Bitcoin if you already own it. You can trade, and you can also borrow against your crypto and get US dollars. So, I think in this time right now when there’s a lot of uncertainty and people are really looking for places to get their money to work for them, being able to earn 8% on cash and also get exposure into cryptoasset class is something that’s extremely valuable.”

Payne concluded the interview by saying:

“It sounds like an offer that’s almost too good to be true. Flori, you’re at the right place at the right time. We appreciate you sharing all your thoughts with us, and of course, good luck with BlockFi. Sounds like you guys are on fire, just like Bitcoin.”

Featured Image by “Alexas_Fotos” via Pixabay.com

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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