Home » Former Prudential Securities Chief Executive Ball Bats for Bitcoin
Bitcoin News

Former Prudential Securities Chief Executive Ball Bats for Bitcoin

Former Prudential Securities Chief Executive Ball Bats for Bitcoin

Former Prudential Securities chief govt and present chairman of Sanders Morris Harris George Ball sees Bitcoin as a protected haven for these searching for totally different investments. 

In an interview with Reuters on August 14, Ball admitted he was beforehand a “Bitcoin opponent” however, with the federal government taking part within the monetary markets, he’s seen the worth of Bitcoin and different cryptocurrencies. 

“I’ve by no means mentioned it earlier than, however I’ve all the time been a blockchain and Bitcoin opponent however when you look now, the federal government can’t stimulate the markets endlessly. The liquidity flood will finish and eventually the federal government’s bought to begin paying for a few of this stimulus, for a few of the deficits, for a few of the well-deserved, very sensible subsidies that it’s offering to individuals. Are they going to boost taxes that prime or if not? Are they going to print cash? In the event that they print cash that debases the foreign money and possibly even issues like TIPS, you already know the Treasury Inflation-Protected Securities, will be corrupted. So the very rich investor or dealer most likely turns to Bitcoin or one thing prefer it as a staple.”

Ball added Bitcoin or different cryptocurrencies “turns into a really enticing both long-term, I desire a protected haven for cash, or a short-term speculative guess.” He additionally made a daring declare within the interview that many individuals will flip to Bitcoin and different cryptocurrencies as investments “after Labor Day.” 

The explanation for this funding rush to cryptocurrencies, Ball mentioned, is that folks need one thing that “can’t be undermined by the federal government.”

Ball is simply one of many many buyers beforehand skeptical of cryptocurrencies which have modified their views prior to now few months. Dallas Mavericks proprietor Mark Cuban mentioned in December Bitcoin “could be a viable steady monetary asset” if one sees artwork or gold as such. Bridgewater Associates Chief Funding Officer Ray Dalio, who nonetheless hasn’t formally thrown his weight into Bitcoin and different cryptocurrencies, mentioned the U.S. greenback would possibly lose its attractiveness the extra central banks drive asset possession.

Credit score: Source link

Spread the love

Related posts

NZ Authorities Seize $90M From Alleged Bitcoin Launderer Alexander Vinnik

admin

What If Amazon’s Jeff Bezos Bought All BTC? Tone Vays Weighs in

admin

Elon Musk, Kanye West and Bill Gates Twitter Accounts Hacked By Bitcoin Thief

admin

Leave a Comment