Since the bear market hit the crypto ecosystem head-on, investors exposed to this helter-skelter asset class have been deterred at large. Not only have the value of cryptocurrencies, such as Bitcoin (BTC), declined drastically, but hype and interest surrounding this market have largely been exhausted. Nevertheless, there remain many libertarian-leaning zealots that will hold on to cryptocurrencies, even until the bitter end. And as such, it should come as no surprise that Bitcoin’s fanatics have come to its defense at a dreary time.

As bears have struck with no holds barred, Bloomberg TV has called upon a number of crypto’s eminent insiders to get an inside scoop. Most recently, the famed financial news outlet brought on Eric Ervin, the chief executive at U.S.-based Blockforce Capital.

Subjecting the CEO to answering run of the mill inquiries, anchor Emily Chang asked what Bitcoin’s 82% year-to-date drawdown has meant for crypto en bloc. Ervin noted that his firm, like many other crypto-centric asset managers, regards cryptocurrencies as a long-term opportunity, rather than the short-term money grab that crypto’s skeptics paint it to be. More specifically, the cryptocurrency proponent likened blockchain-based assets to the venture capital ecosystem, explaining that investing in cryptos should be addressed with a three-year time horizon. Ervin elaborated on crypto’s prospects as an investable instrument, stating:

“Because it is so inefficient, and there are so many operational risks that are yet to be solved, this creates an opportunity for investors that are willing to wade into the shallow end and start to invest in the asset.”

Echoing comments from a multitude of his fellow industry pundits, the Blockforce representative then touched on how cryptocurrencies accentuate the hallmarks of an asymmetric risk profile. Ervin added that this emerging asset class, often likened to the Internet in the 90s, has the potential for copious upside, before maintaining that cryptocurrencies provide a ‘nice opportunity” for investors who can play their cards right.

Just days ago, on two distinct mainstream media segments, Travis Kling and Mark Yusko, two institutional investors turned crypto diehards, also lauded Bitcoin as a viable medium of portfolio diversification, even for investors deemed conservative and pro-traditionalist. Kling, taking to the media network of crypto-friendly TD Ameritrade, told viewers that while BTC is a “multi-year, multi-decade” play, its return on investment proposition makes the cryptocurrency a compelling investment.

In a similar manner, Yusko, the founder of the overarching Morgan Creek brand, told CNBC’s Power Lunch that for investors pursuing asymmetrical exposure to assets, crypto assets are a prime vehicle to choose.

When queried about Bitcoin’s crash, Ervin made it clear that such price action was “healthy,” as the aggregate value of all circulating cryptocurrencies has only fallen to the levels seen in early to mid-2017 — not an apocalyptic crash, that’s for sure. The Blockforce chief also alluded to the belief that the crash weeded out bad actors, as he explained that “real people,” many of which are seeking to reinforce industry infrastructure, remain as crypto’s only survivors.

In closing, the Bloomberg host, attempting to glean knowledge regarding the Bitcoin exchange-traded fund (ETF) application from VanEck, SolidX, and Cboe Global Markets, asked Ervin on his expectation for the upcoming product. Almost as if he was poised for such a question, Ervin noted that although he expects for a crypto-backed ETF to go live eventually, the acceptance of VanEck’s appeal will likely fall a few feet short of its mark.

While some cynics may bash industry participants like Ervin as naive,

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