A formal International Monetary Fund economist, by the name Mark Dow, has suggested that investors buy Bitcoin (BTC) as the price of the digital asset points to the moon.
The economist, who had in the past bashed Bitcoin investors, made this suggestion, just as the narratives to HODL increases in the crypto space.
Previously, Dow said Bitcoin enthusiasts have to get the fuck out if at the end, Bitcoin failed to touch the $5,000 to $6,000 range in a very short term.
Now, the economist is suggesting that Bitcoin is now “buyable” at this point that the price of the digital asset is going ballistic. Late 2018, Dow said he cashed out the fund he maintained when Bitcoin was around $20,000. The economist said, just when Bitcoin witnessed $3,122 twelve months low price.
#Bitcoin chart. Buyable. $XBT $BTC pic.twitter.com/gE3urIfLJ5
— Dow (@mark_dow) April 1, 2019
According to Bloomberg, before “saying goodbye”, Dow already took Bitcoin profits twice that year.
“I’m done. I don’t want to try to ride this thing to zero. I don’t want to try to squeeze more out of the lemon. I don’t want to think about it. It seemed like the right time.”
Tim Draper Extends Bitcoin (BTC) Bullish Stance To Argentina
Cryptocurrency investor Tim Draper has extended his bullish stand to Argentina, urging the government to legalise Bitcoin to better the country’s economic situation, a report by Cointelegraph en Español indicates.
The venture capital investor was said to have met the president of Argentina, Mauricio Macri on March 20, purposely to discuss the country’s economic situations and prospects.
The crypto advisor spoke on the prospects of blockchain technology and cryptocurrency, stating that the technology has the potential of improving the economy. He suggested the devaluation of Argentine peso (ARS).
“We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there’s a lack of confidence in this coin.”