More and more retail investors and fund managers are buying Bitcoin after its halving, according to Matt D’Souza of Blockware Solutions.
The chief executive officer said earlier today that billionaires and average traders are diversifying their portfolios by investing in the cryptocurrency. Their interest has thrived in the wake of money printing by central banks and large stimulus packages introduced by governments to aid their economies from the impact of the coronavirus pandemic.
“The weakness in the global macro – and reckless spending from the Fed is brewing a perfect storm in BTC,” said Mr. D’Souza. “Our financial system has an uncertain monetary policy. [On the other hand], BTC has a certain one. Billionaires, funds & retail are taking notice, [as well as] positions.
The statement took inspirations from the fixed economic policies inscribed in Bitcoin’s source code. The cryptocurrency’s net supply cap is 21 million, which keeps on getting reduced by half every four years or 210,000th mined block – an event known as halving. That theoretically makes Bitcoin a scarcer asset than fiat. Read More