Pantera CEO calls US bonds a Ponzi, advises investing in Bitcoin to protect assets

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2021-12-27 09:53:09

Dan Morehead, managing director of Pantera Capital and longtime macroeconomic investor, has sounded the alarm about what he calls a bubble created by the Federal Reserve and says investors investors should buy digital assets instead.

Bond investors “will be completely destroyed when the Fed stops manipulating the bond market,” he said on Tuesday. Morehead argues that Bitcoin and crypto-assets can be a hedge as bubbles in debt markets begin to appear.

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He said: “Governments should stop obsessing about Bitcoin. The biggest Ponzi scheme in history is the US government and the mortgage bond market – $33 trillion.”

Morehead, who was an executive at Tiger Management, started the Pantera crypto investment fund in 2013.

At the time, Bitcoin was trading at $65; The digital currency hit an all-time high of nearly $69,000 in November. Morehead currently invests in a variety of digital assets and his company is managing $6.4 billion worth of assets. la.

He is not the first to liken central bank policies to a Ponzi. Guggenheim Investments’ Scott Minerd made a similar comparison in early 2020, before the world’s money regulators took action to stem the financial devastation caused by the coronavirus pandemic.

As regulators voiced their warnings about cryptocurrencies, Morehead emphasized that the Bitcoin market cannot be rigged.

He said: “The Bitcoin market is too big to be manipulated. Bitcoin is traded on hundreds of exchanges in dozens of countries. Bitcoin Daily Volume is 1,000x More Than GameStop”

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