Bitcoin enjoyed a rally earlier this week, but is once more trading lower after the European Central Bank raised interest rates for the first time in 11 years, and Tesla announced it had sold most of its Bitcoin holdings to create liquidity on its balance sheet. Interest rates are always likely to be a factor when it comes to asset prices, but what should investors keep an eye on if the price of Bitcoin can be so impacted by one company's market move? Anam Lakhani, and Eve Halimi, Co-founders and Co-CEOs of Alinea, join Closing Bell to discuss what sort of investor activity is taking place on their platform, whether young investors are holding or selling, and more.

Closing Bell

What Should Investors Watch as Bitcoin, Broader Crypto Market Prices Fluctuate?

Welcome back to closing bell on cheddar news. Everyone, let's turn to the crypto market because Bitcoin yet again under pressure today as the E. C. B. Did hike rates and Tesla sold a big portion of its Bitcoin holdings. Well the coin yesterday reaching a fresh one month high. So what should investors be on the lookout for as cryptocurrencies continue their roller coaster ride. Joining me now is an omelet Connie and Ive Halimi co founders and co Ceo of Millennia and investing platform. It's great to have you both on the show. Ladies Unum will start with you your thoughts on Bitcoin's movement this week and whether or not we might be able to see some stabilization in this market. Thank you so much for having us think it could go either way. I think for the first time we're seeing Bitcoin act in the way as it was intended to be, which could potentially be a hedge to inflation. We're also seeing a lot of experts say that there's a high correlation with the equities market and it could most likely be priced into this upcoming recession that a lot of experts here are predicting Eve, I want to get your take as well as a co founder and co ceo of this company Alenia alongside an on your co founder. What exactly does your platform offer investors in? What kind of activity are you seeing on the investing platform amid some of the recent volatility. Yeah so most of our investors are between 18 to 25. So really the gen Z. Demographic. And we're seeing them invest increasingly in crypto baskets. So these playlists that we created essentially. So they're diversifying their crypto investments. They're not putting all their eggs in one basket, but they are increasingly investing in the Cryptocurrency market, interesting, um, in um, obviously crypto very much in focus for your day to day investors, but for institutions as well, any plans to expand beyond the retail investor and perhaps catch the attention of some of these major institutions that are starting to offer crypto more and more definitely it's on the plans, but for now we're highly focused on the gen Z segment and making retail investing more accessible and inclusive. Okay, Eve, your projection on where crypto heads from here? And what are best practices that investors should keep in mind when trading on your platform? Yeah, we're big on diversification. So don't just put all your eggs in one basket, make sure to invest in crypto but also in the equity space. We, we have seen the crypto space be very much um, inflated essentially, and and harmed by the recent events. So we expect more harm to come to the equity space in the coming months than the crypto space, um, and, um, what current crypto products do you offer on your platform and any plans to expand your own product offerings that investors can buy into. So currently we have the top 20 cryptocurrencies on the platform. We have Bitcoin heaths, Alana Sushi, many of the major coins and we'll definitely be expanding as we see more verified crypto projects and coins pop up. Even another question to you is how are you ensuring that investors are protected against any downside here? Obviously buying on margin has been a challenge during this so called crypto winter as we've seen and we've also seen some coins just simply outright be fraud. How do you make sure that there's due diligence to protect the investors on your platform? Yeah, so we were working with Alpaca currently on providing the top 20 cryptocurrencies. So no small coins are offered on the platform. We have really the top notch kryptos out there. We're also providing a ton of education on each of these cryptocurrencies. Um and a ton a ton of, of resources for these new investors before they're getting started. What are some of those resources in? Yeah, so we offer education within the app. We have our own blog and we do a lot of educational stuff around social media. Our primary offering is playlists which essentially pushes diversification with any investment. So you can diversify across Kryptos and equities or both. All right ladies, we're gonna leave it there. Thanks so much for coming on the show today. That's an omelet Connie and Eve Halimi co founders and co ceos of the trading platform. Millennia