The Ex-chief executive officer of Prudential Securities and now CEO of Sanders Morris Harris, George Ball, advised that cryptocurrencies, especially bitcoin can be “a safe haven” for traders and investors as an alternative investment. George Ball, who earlier claimed himself as a blockchain and bitcoin opponent, said in an interview with Reuters that bitcoin or other cryptocurrencies are very appealing both in the long term and short term and anticipated that more people will turn to the crypto bitcoin market after the Labor Day.
Further, Ball said that the government can’t stimulate the markets forever, the liquidity flood will end soon. At some point or another, the administration must begin paying for a portion of these boosts, for a portion of the deficiencies, for a portion of the merited, keen subsidies that it is giving to individuals. Is it accurate to say that they are going to raise charges, if not, would they say they are going to print cash? On the off chance that they print cash, that degrades the money and presumably even things like TIPS – Treasury swelling ensured protections – can be defiled.
This will certainly lead to extremely wealthy investors and traders turning to cryptocurrency, Ball concluded, indicating an increasing interest in the cryptocurrency market from high-net-worth investors.
Mike NoVo Gratz, CEO of the advanced current firm Galaxy Digital, disclosed to Bloomberg TV back in April that he has watched new players including multifaceted investments and high-total assets people have been purchasing cryptographic forms of money in the midst of the budgetary purge brought about by the Covid-19 pandemic.
Ex-Prudential Securities CEO, Ball also suggested that exploring cryptocurrencies as an alternative investment is not just for the purpose to find a tax refuge but also, to have something that can’t be controlled by the government.
Image Courtesy : Pixabay
