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Irresponsible Fiscal Policies Could Help Bitcoin Become A Store Of Value

ยท in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

According to the equities portfolio manager Travis Kling, Bitcoin (BTC) could become a hedge asset during irresponsible policies from central banks and governments.

He said that during an interview with CNN on September 15. His comments come after the European Central Bank (ECB) decided to lower rates and start a new fiscal stimulus plan. 

Irresponsible Fiscal Policies To Help Bitcoin

Mr. Kling explained that he started learning about Bitcoin back in 2013. However, he realized that the most popular digital currency was not an investable asset class. In 2014 the crypto exchange Mt. Gox was hacked and many investors lost all their funds. 

In 2016 and 2017 he started to do more research regarding Bitcoin. The virtual currency started growing in value. By the end of 2017, Bitocin was already traded around $20,000 and Initial Coin Offerings (ICOs) were also expanding in the market. 

In the summer of 2017, he realized Bitcoin was going to become the most important innovation since the internet and the most significant investment opportunity in his generation. 

Regarding the current global situation, he stated:

“Now is an incredibly interesting time from a global macro perspective and it appears that crypto has been created for such a time as this. With what we have in terms of monetary and fiscal policies from central banks and governments, big tech overreach, government overreach, data privacy issues and Bitcoin.” 

He went on saying that Bitcoin has been changing its identities over the last 10 and a half years history. Currently, part of the confusion that people have to understand Bitcoin is related to the way it has been changing since it was created. 

For Mr. Kling, Bitcoin is a non-sovereign, hard-capped supplied global immutable decentralized digital store of value. Thus, this virtual currency could be a hedge against monetary and fiscal irresponsibility from central banks and governments globally. 

He explained that governments are currently in a race of devaluing their currencies as fast as possible.

As most of the important banks and governments are doing it, he considers that they are devaluing these currencies against Bitcoin, which is digitally scarce, and also against gold. 

“Bitcoin is an insurance policy against monetary and fiscal policy irresponsibility,” he said. “The world needs that more today than it did yesterday and we are going to need it more tomorrow than what we need it today.”

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