Ex Bitcoin critic says that it’s an only asset that can’t be undermined by authorities.
Former CEO of the popular American investment company Prudential Securities George Ball considers bitcoin an appropriate asset for keeping savings. During his interview for Reuters, the specialist paid attention to the prospects for investing in BTC.
George Ball’s statements about cryptocurrencies have gained great popularity among members of the crypto community. Many investors think that a positive opinion of a specialist about a digital asset will have a positive effect on the further expansion of Bitcoin.
According to George Ball, cryptocurrencies, as a financial instrument, look promising in the current situation when governments of different countries take anti-crisis measures and try to stimulate their economies artificially, printing more money. The specialist believes that this tactic does not seem to be effective in the long term. In his opinion, modern financial regulators have two choices: to continue printing money endlessly or to raise taxes.
It is noteworthy that previously George Ball was an opponent of digital assets. As the specialist noted, he was forced to change his opinion about this new financial instrument due to the incorrect monetary policy of financial regulators during the crisis.
The only asset that can’t be undermined by authorities
Endless printing of money and the artificial injection into the market, according to the specialist, weaken the national currency. As a result, investors, he said, are forced to look for alternative assets to save funds during the crisis. Bitcoin became one of them. George Ball drew attention to the fact that the governments of the countries can’t influence BTC directly. This, in his opinion, is one of the components of the success of cryptocurrency in the future.
The specialist believes that bitcoin can be considered as an asset for long term investment and for a short-term period, as well. In his opinion, investors will start actively investing in digital assets in the fall.