Though voicing concerns about the other markets, Seif believes cannabis still has a “considerable runway to clear before taking off in a sustainable way.” Psychedelics, while exciting, are a decade behind cannabis, he added.
In conversations for previous articles, sources have hypothesized alternative outcomes where psychedelics could catch up to, or even outpace, cannabis regulations.
Waneta Jaikarran, director of brokerage ops for E1 Asset Management, favors crypto, citing ongoing political decisions.
“Given that the government will keep increasing the debt ceiling and making things unattractive, crypto was created to counteract that,” Jaikarran said.
If possible, she’d recommend diversifying the funds. “My current outlook on crypto is using it as a hedge.” Support for Choosing Cannabis Brett Sifling, director of financial planning program Get Invested at Gerber Kawasaki Wealth and Investment Management, highlighted the potential of cannabis – a market his firm heavily focuses on.
Sifling believes that crypto could face large drawdowns while public psychedelic companies are in their earliest stages.
Sifling leans toward ETFs such as AdvisorShares Pure US Cannabis ETF. “Instead of making a bet on just one cannabis company, you’d have exposure to nearly 30 different cannabis companies spanning multiple industries.”
Rick Batenburg III, chief investment officer at Cliintel Capital Management Group said each market has its own models and needs to assess, calling cannabis “the easiest and smartest choice” to invest in.
Citing looming federal reform and adult use status in many states as reasons he’s invested, Batenburg says he does not see psychedelics following the adult-use route. He referred to crypto as “purely forex trading” not backed by “real diligence.”
Industry outsiders like Kristen Bolig, founder of home and online security company SecurityNerd, opted for cannabis, citing digital concerns.
“With the digital threat landscape for hackers becoming much larger over the past 18 months, investing in anything that is so heavily intertwined with the world wide web comes with a lot of risks,” he cautioned. Invest in What You Know Overall, each sector offers potential if a person understands the space.
Shuan Heng, VP of operations for the crypto-asset tracking site CoinMarketCap, advocates for people investing in their expertise.
Heng likes the freedom crypto creates for people. He also made a case for plant medicines and similar substances, saying, “Many others could be motivated by investing in the mental health potential of psychedelics or the medical applications of cannabis.”
This article originally appeared on Benzinga and has been reposted with permission.
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