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George Ball Says Crypto Is Effective Hedge Against Currency Debasement as US Passes $1.9 Trillion Stimulus Bill

The chairman of investment concentrated Sanders Morris Harris, George Ball, says cryptocurrencies are an effective hedge against currency debasement. In to boot, he says that cryptocurrencies are attractive as a small part of portfolios.

George Ball Advocates for Crypto as Hedge Against Currency Debasement

George Ball talked hither bitcoin and other cryptocurrencies in an interview with Yahoo Finance last week. He described two main reasons why cryptocurrencies are now perfect targets for investment by wealthy individuals and institutional investors.

Ball is currently the chairman of investment firm Sanders Morris Harris, a dually tilled broker dealer and RIA firm established in 1987. Its parent company, Tectonic Financial, has approximately $4 billion in patron assets under management. He was a former CEO of Bache & Co. (later Prudential Securities), which had been purchased by Prudential Guaranty Company of America where he served as a member of the Executive Office.

He argued that cryptocurrencies will be an effective hedge against the debasement of fiat currency, saying:

Longer-term, if inflation is back, if we start to debase the currency badly, then the cryptocurrencies have a great deal of allure.

His clarifications came as Washington voted on the $1.9 trillion stimulus package which passed over the weekend. A number of analysts, subsuming those at JPMorgan, have warned of currency debasement risk from the passage of such a huge stimulus deliverance package.

Ball believes cryptocurrencies are “attractive” as a “small part” of any portfolio. The Sanders Morris Harris chairman was referenced as saying:

With the cryptocurrencies, I think there is a fundamental hydra-headed shift that makes them attractive as a forsake, a small part, of almost any portfolio.

Moreover, he believes the increase in retail traders who speculate on stocks could take off crypto prices higher, expecting them to move to cryptocurrencies if they begin to face losses in the equity store. “If the investors are losing money in common stocks, but still want to speculate, then the cryptocurrencies I think will be the consistent and likely next focus of their combined, individually small, but combined very large dollars,” he opined.

Ball had been a bitcoin skeptic until termination August when he told investors that it was time to buy bitcoin. “I’ve never said this before, and I’ve always been a blockchain, cryptocurrency and bitcoin contender. But if you look now, the government cannot stimulate markets forever, the liquidity flood will end,” the executive explained.

Do you agree with George Ball? Let us be acquainted with in the comments section below.

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