Anthony Denier, CEO of Webull Financial, recently joined "The Raz Report," where he discussed Webull’s expansion into cryptocurrency trading.
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Bitcoin recently hit new all-time highs for the first time since 2017, and the Grayscale Bitcoin Trust (OTCQX:GBTC) has nearly tripled year-to-date. Denier said Webull is making cryptocurrency a priority for the online trading platform.
“To be honest, I am hyper-focused on cryptocurrency at the moment, so I am very happy to say that Webull has launched our beta cryptocurrency trading platform where we currently have about 15,000 of our beta test accounts. These are customer accounts that are right now trading crypto,” Denier told Benzinga founder and CEO Jason Raznick.
Watch the full interview from the #RazReport in the video below:
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The timing for the launch was perfect given the attention on crypto heading into 2021, Denier said.
“Crypto is the gold for the new generation. Especially when you have a younger investor base, they’re very comfortable with owning — whether it be a bitcoin, an ethereum, a Litecoin — as an asset class, and it’s now a legitimate asset class, to hedge a portfolio,” he said.
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A Unique Opportunity: Denier said one of the coolest aspects of the crypto market for traders is that it is open and tradable 24 hours a day, 365 days a year, including on holidays such as Christmas.
Historically, cryptocurrencies have been extremely volatile investments, and Denier said Webull has made cryptocurrency a cash product only to prevent overleveraged trading. Webull allows fractional trading, so retail investors can buy and sell bitcoin in increments as low as $1.
Cryptocurrency adoption is just one of the many ways the next generation of investors will be changing the world of finance, the CEO said.
“There is a literacy when it comes to managing your money that I don’t think any generation has ever come close to what they have today.”