Ex-Prudential Securities CEO Calls Bitcoin A Safe Haven

George Ball, the previous chief govt officer of Prudential Securities and now CEO of Sanders Morris Harris, instructed that Bitcoin or different cryptocurrencies power be “a safe haven” for buyers and merchants in its place funding.

Ex-Prudential Securities CEO Calls Bitcoin A Safe Haven

Ball, who claimed himself as a Bitcoin and blockchain opponent, expressed in an interview with Reuters on August 14 that bitcoin or one other cryptocurrency is “very attractive” each in the end and quick period of time and foreseen that extra folk will flip to the crypto market after the Labor Day.

“The government can’t stimulate the markets forever,” Ball expressed. “The liquidity flood will end. Sooner or later, the government’s got to start paying for some of these stimulus, for some of the deficits, for some of the well-deserved, very smart subsidies that it’s providing to people. Are they going to raise taxes that high? Or if not, are they going to print money? If they print money, that debases the currency and probably even things like TIPS – treasury inflation-protected securities – can be corrupted.”

This would possible result in very rich buyers and merchants to show to Bitcoin “or something like it as a staple,” he concluded, hinting {that a} rising curiosity in cryptocurrencies from high-net-worth buyers.

Ball is just not the primary one who has seen this funding development inside the wake of the coronavirus pandemic.

Mike Novogratz, chief govt officer of the digital-current agency Galaxy Digital, instructed Bloomberg TV once again in April that he has detected new gamers together with hedge medium of exchange imagination and high-net price people have been shopping for cryptocurrencies amid the monetary shakeup attributable to the Covid-19 pandemic.

Ball in addition burdened that searching for cryptocurrencies in its place funding is just not for the aim to discover a tax refuge even so “to have something that can’t be undermined by the government.”

Patricia Bakely Send an email August 17, 2020

0 3,801 1 minute read
Show More

Patricia Bakely

Earn Free Bitcoin Online with

Related Articles

Leave a Reply

Back to top button