Investment Advisor Recommends Crypto to be used as Effective Hedge Against Currency Debasement after the U.S Passes 1.9 Trillion Dollars Stimulus Bill
March 8, 2021 11:43 AM
Renowned investment adviser George Ball says Crypto Is an effective hedge against currency debasement as the United States Passes Biden's $1.9 Trillion Stimulus Bill.
The Sander Morris Harris chairman says cryptocurrencies are looking more attractive to be included as a small part of portfolios and could be used as an effective hedge against currency devaluation.
In an interview with Yahoo Finance last week, Goerge Ball shared two main reasons why digital assets such as bitcoin are now ideal targets for investment by institutional investors and wealthy individuals.
The current chairman of investment firm Sander Morris Harris, Ball argued that cryptocurrencies will be an effective hedge against the debasement of fiat currency, he said:
Longer-term, if inflation is back on, if we start to devalue the currency badly, then the cryptocurrencies have a great deal of attraction.
Ball's comments came just after Washington voted on the $1.9 Trillion stimulus Bill which passed over the weekend. However, it's not just Ball that's feeling this might have effects of currency devaluation. with several JPMorgan analyst who has also warned of the potential currency devaluation risk from such a huge stimulus relief package.
The Sander Morris Harris chairman believes cryptocurrencies are "attractive" to be included as a small part of any portfolio. Ball said:
I think there is an essential hydra-headed shift that makes them very attractive as a part, a small part of any portfolio.
Ball who had been known to be a Bitcoin skeptic until late August 2020. When he said it was time to acquire Bitcoin. The Chairman explained that the government cannot stimulate the markets forever and the liquidity flood will end eventually.
However, Ball believes the growing number of retail traders who speculate on stocks could be the driving force that is needed to push crypto prices higher. He opined that if they start to suffer losses in the equity market, then cryptocurrency will likely be next focus as their individually small, but when combined very large dollars that can push the price higher