Agecroft Consultancy CEO: Bitcoin Has A Fantastic Technology And Hedge Funds Will Go For It
Don Steinbrugge, the CEO of Agecroft Partners, has recently spoken about Bitcoin. According to him, BTC has a fantastic tech and it can be used in several creative ways. For instance, you can use BTC in order to hedge against inflation.
He recently spoke to CNBC and affirmed that he is amazed about how people are using BTC in order to bet against the economy during the current trade war with China. Most people believe that the U. S. will face an economic crisis soon, so they are betting on BTC.
So far, it has been a winning bet. There is so much economic uncertainty that investors are buying BTC and prices are going up quite fast.
The investor has also affirmed that Bitcoin is here to stay and that the technology can be used in order to retain value when the economy is going down. There is no better example of that than Venezuela. The country is facing major inflation and BTC is a way to store the value of assets in a safe way because, even with its volatility, it is safer than a market in crisis.
While hedge funds had a very troubled 2018 when it came to crypto, most of them are getting huge returns this year. BTC is back and this is the perfect time to use it in order to get as much money as possible. Traditional markets will be affected by the trade war, so a lot of money will be injected in the market, which is considered a safe haven by many investors.