Easing Central Bank Policies Could see Investor Influx to Bitcoin Instead of Gold | BTCMANAGER
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While investors agree that the current monetary policies from central banks will spell doom for the market, there is no consensus on which asset takes primacy as a hedge against the coming uncertainties. Mark Mobius of Mobius Capital Partners recently told Bloomberg, that rising bitcoin interest will only fuel the need to buy “hard asset” like gold.
Monetary Policies Aiding Bitcoin Haven Asset Argument
Speaking to Bloomberg on Tuesday (August 20, 2019), the veteran investor became the latest to fault the easing monetary policies of central banks across the globe.
According to Mobius, once central banks pivot to a more dovish stance, quantitative easing will reach unprecedented levels, remarking “they [central banks] are going to be printing like crazy.”
As previously reported by BTCManager, several commentators have come in 2019, talking up bitcoin’s rising prominence in the haven asset scene.
Some stakeholders say bitcoin helps to de-risk investment portfolios. This position usually draws from the lack of correlation between the top-ranked crypto by market cap and mainstream assets.
In an interview with CNBC, Jeremy Allaire, CEO of Goldman-Sachs backed Circle highlighted bitcoin’s status as a haven asset amid growing global uncertainty.
For Allaire, investors are increasingly becoming more interested in non-sovereign assets that cannot be affected by political squabbles.
While other stakeholders like Dev Kantesaria of Valley Forge Capital Management that bitcoin can guarantee some short-term gains,