Morgan Stanley Exec Recommends Bitcoin on CNN

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Morgan Stanley exec recommends Bitcoin on CNN

Morgan Stanley Exec Recommends Bitcoin on CNN

Morgan Stanley Investment Management’s chief strategist Ruchir Sharma recommended Bitcoin as an alternative investment to stocks.

Speaking on CNN, the Indian investor said with the central banks’ money printing policy alternative assets, like gold and Bitcoin, could keep doing well while stocks struggle.

Money Printing Will Ultimately Harm Stocks But Benefit Bitcoin

Sharma, who joined Morgan Stanley in 1996, explained how the printing of free money would hurt tech stocks and risk assets after interest rates started to rise again, which he believes could happen much sooner than most think.

‘We have seen such high stock prices even though the economy is very weak,’ said the author of best selling book Breakout Nations: In Pursuit of the next Economic Miracles.

Sharma was forthright in his view that stocks would struggle, however, saying the ‘incredible support they have got from liquidity and interest rates and that support goes away next year.’

Sharma was asked what he thought about safe havens, such as gold and Bitcoin, to which he explained how both were really popular depending on the generational demographic.

‘Generally I think what that’s telling you is that there is this lingering feeling out there that given what central banks are doing in terms of printing so much money there is a search for alternative assets, I think that these assets could keep doing well.

Gold, in particular, does very well when interest rates, adjusted for inflation, are negative and I see that environment carrying on for a while.’

Sharma also authored a New York Times article last month in which he talked of his disdain for everything that is gold, but conceded,

‘Unless a vaccine emerges quickly, central banks stop printing money frantically and real interest rates start rising again, it is difficult not to be a gold bug now.’

And in the CNN interview he reiterated his gold belief and brought Bitcoin into the argument.

‘To have about 5% or so of your portfolio in gold is not a bad idea, and if you’re a bit more adventurous, and I guess it’s more to do with demographics, then obviously search for Bitcoin.’

Wall Street Is Steadily Placing Itself Into Bitcoin

Sharma isn’t the only “big name” from the legacy financial world to see the necessity of looking into gold and Bitcoin.

BTC Bitcoin Bullish

Gold is a safer and steadier hedge, but many leaders from the macro space are extremely bullish on Bitcoin.

Former Goldman Sachs hedge fund manager Raoul Pal recently said ‘a perfect storm had brewed for Bitcoin.’

The Real Vision CEO said macro and Bitcoin technical analysis was all coming together perfectly and it made Bitcoin ‘the best opportunity on earth.’

Devere Group CEO Nigel Green has also spoken openly about Bitcoin, saying he expects it to break out this year, and that he sees it eventually overtaking gold as the safe haven.

And of course Microstrategy recently spent half of its equity on Bitcoin. The Nasdaq-listed company spent a staggering $250 million buying 21,245 bitcoins, as a hedge against what its CEO Michael Saylor believes is a hedge against monetary policy.

‘The economic situation may well have a significant depreciating effect on the long-term real value of fiat currencies and many other conventional asset types, including many of the assets traditionally held as part of corporate treasury operations,’ said Saylor.

Bitcoin Microstrategy

It’s Bitcoin’s Time

The Bitcoin is so different to what it was four years ago. Back then, it was inconceivable for so many big names from Wall Street to openly talk about Bitcoin.

But as the infrastructure of Bitcoin evolves, and the reality of it becomes more known, the inevitability of Bitcoin becomes more apparent.

Add governments printing money at a rate never seen before and you have the perfect storm for Bitcoin.

Author: Tommy Limpitlaw

Bitcoin FAQs

Why is 1 Bitcoin so much?

Every bitcoin has value because they are useful as a form of money. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. And as the digital age continues to dominate, a currency that is built on the Internet and for the Internet, especially one that requires no third party and can be programmed, it just shows the potential of Bitcoin.
 
But the truth is, it’s not really that expensive. The actual price isn’t really a true reflection of its value. It’s the market cap, and that is just over $200 billion today. A lot of money to me and you, but as an asset, $200 billion is tiny.

How can I buy Bitcoin in New Zealand?

There are many reputable Bitcoin exchanges operating in New Zealand. However, the most recommended exchanges are Kraken or Blockfi. Or you can buy Bitcoin from Bitcoin marketplaces, such as LocalBitcoins or Paxful.

All of these exchanges and marketplaces are global with high liquidity and excellent customer service. Feel free to read the reviews of each one.

Can you buy less than 1 Bitcoin?

Yes. Every Bitcoin can broken down into 100 million bits. They are known as satoshis, after the pseudonymous creator Satoshi Nakamoto. And some companies will let you buy as little as $1 worth of Bitcoin, which at time of writing is worth about 11,000 satoshis. There are many companies that have a system for dollar cost averaging (DCA). This is a great way to buy Bitcoin, and is known in the space as ‘Stacking Sats’. Basically, what you do is set up small automatic, recurring payments to buy Bitcoin (or sats), and you DCA over time.

Where is the best place to buy Bitcoin?

There are many great places to buy Bitcoin, and it all depends on your preference. You can buy Bitcoin on typical cryptocurrency exchanges, such as Binance and Kraken. Or you can buy it from peer-to-peer Bitcoin marketplaces, such as Paxful and LocalBitcoins. You can also buy Bitcoin from Bitcoin ATMs. It all depends on your location and preference.

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