Previously a cryptosceptic, Bernstein Research’s portfolio strategy co-director now says Bitcoin has a position in investors’ portfolios. Its acquisition occurs when the currency reaches new records and has recorded gains of more than 160% since the beginning of the year. .
But the most recent Bitcoin rally is precisely what replaced Fraser-Jenkins’ mind. The strata explained that the coronavirus pandemic has replaced the political environment, debt grades and diversification characteristics for investors, and that all this has made Bitcoin a horny asset.
The pandemic has led to greater fiscal expansion and a higher likelihood of inflation and higher taxes. These political points will generate a call for bitcoin, Fraser-Jenkins said.
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However, Fraser-Jenkins doubts that governments prohibit cryptocurrencies. He said that for this to happen, cryptocurrencies obstruct the government’s reflation policy efforts. Right now, cryptocurrencies are too small to have an effect like this, Fraser-Jenkins said.
He added: “Cryptocurrency attractions are also what makes them annoying for policy makers. Cryptos have a position in asset allocation . . . As long as they’re legal!”
Fraser-Jenkins also replaced his brain over bitcoin because knowledge of the cryptocurrency has replaced him in the more than 3 years. gold and stocks have fallen to traditionally low levels, he said.