Bill Gross – Central Banks May Be Countered By Bitcoin

Bitcoin app Blockchain Technology and Banks

The latest technologies like bitcoin are attracting investors as a protection against the central bank negative interest rate and low policies, which threaten  capitalism as per Billionaire bond manager Bill Gross.

The historical business models are destroyed by the policies of the Federal Reserve, European Central Bank and Bank of Japan. It fosters the economic, savings and investment growth further stated by Gross in an October investment outlook released on Tuesday. He further says that this way the investors will lose faith in the system and they will look havens.

Some of the examples of attempts to stabilize the value of their current assets, the Bitcoin, and private companies agree upon blockchain technologies, amongst a small set of global banks wrote by the Bill Gross. In all the cases, there are lots of challenges in the current system.

The bitcoin BTC is underlined by the technology named as Blockchain. It is a digital currency, which uses encryption technologies for generating the new money and verifying the fund transfers independent of a central bank. Last month, a caucus was formed by the two members of the U.S. Congress to advocate for the blockchain based technologies and cryptocurrencies which may need new laws to thrive.

The atmosphere of Casino

The Central Banks are acting like the casino gamblers who will double down on the bets each time according to the Bill. It is a strategy which will work as long as there can be unlimited amounts of money can be printed. They are boasting a casino like atmosphere which is presented with a choice of Hobson further wrote by Gross.

Scaling Back

In 2013, the US bond market was rocked by a so-called taper tantrum when the Chairman of the Federal Reserve Ben Bernanke signaled a reduction in the monthly purchases of the mortgage and treasuries backed securities.

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