Following the Fed’s continues streak of money printing, one of opponent of Bitcoin, has changed his views about the king cryptocurreny.
Former CEO of insurance giant Prudential, who is currently chairing at investment firm Sanders Morris Harris, George Ball told Reuters that Bitcoin is the safe bet for the big investor.
This comes after Ball was asked about the uncertain times and how can investors deal with it. To which, he gave his statement in favour of Bitcoin, with the largest market cap.
“I’ve never said this before, and I’ve always been a blockchain, cryptocurrency, Bitcoin opponent,” he told Reuters during a video interview. “But if you look right now, the government can’t stimulate the markets forever.”
“Are they going to raise taxes that high? Or if not, are they going to print money? If they print money, that debases the currency and probably even things like TIPS—treasury inflation-protected securities—can be corrupted,” he added.
The response given by Ball came as a shock to many including Reuters reporter Fred Katayama who said: “Wow, I never thought I’d hear you say that.”