An Ex-Chief Executive officer of Prudential Insurance Limited, George Ball, who is renowned for being an opponent of blockchain and the pioneer cryptocurrency Bitcoin, has in a recent statement declared that he is making a u-turn, and he changed his mind about buying BTC, hence making headway into the cryptocurrency space.
Ball made this declaration while participating in an interview with Reuters; he averred that he now sees Bitcoin as an attractive and ideal for long-term investment. The ex-prudential boss joins the growing list of finance professionals from across the globe who have been preaching to persuade investors into investing in digital gold.
Ball pointed out that the stock markets are currently boring and the liquidity flood which will soon come to an end is the only factor that has been keeping things afloat, he further added that the continuous flurry stimulus packages would in the long-run hit back on the government.
Furthermore, Ball stated that the US dollar would head toward debasement which would corrupt reliable investments instruments like the ‘treasury inflation-protected securities (TIPS)’ if the government refuses to end the money printing.
He reiterated that BTC stands as a safe haven where investors and wealthy traders could preserve their treasuries because the coin cannot be undermined by the government and could not become worthless as well.
Buffett will Not Buy Bitcoin for Any Reason
In another development, NewsLogical had reported that the renowned Bitcoin pessimist and CEO of Euro Pacific, Peter Schiff, had declared that Warren Buffett will never buy Bitcoin even though the BTC price “pumpers are exploiting Billionaire’s decision to buy Barrick Gold.”
Buffett had earlier warned people against investing in gold owing to his opinions that the asset is not worth investing in, nevertheless, this has come to an end as Buffet’s Berkshire Hathaway accepted to venture into the gold business, investing into Barrick Gold Corp with USD 20.9 million.
The successful entrepreneurs’ change of heart toward gold had created a mixture of speculations and excitement in the crypto community as many BTC enthusiasts believe that there is a high possibility that the billionaire will soon have a changed perception about Bitcoin the same way he had done for gold.
Nonetheless, Peter Schiff sees this belief as being unrealistic, stating that Warren Buffett would not for any reason consider investing into BTC, he explained that the fact that the billionaire desist Bitcoin to the level of calling it a rat poison, but earlier regarded gold as a non-productive asset, is an indication that he won’t for any reason consider buying the digital asset.