Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Billionaire investor Jeffrey Gundlach told CNBC why he prefers to Bitcoin. I used to be critical of cryptocurrency.
We all love the billionaires who, after being critics of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. They gave in to their advantages and now declare themselves investors. Jeffrey Gundlach, who is the CEO ofDoubleline Capital capital is most commonly defined as the large sum of money you would use to invest. and is also known as the “King of Bonds”, is one of them. The billionaire investor was one of the super-rich who first disowned de Bitcoin and in 2020, at the height of the pandemic, he started saying it was the best hedge against inflation. Then, in January of this year, Gundlach said an economic recession is expected by the end of 2022, however I did not recommend buying Bitcoin at the time, given that the recession could affect crypto as well.
Now, in an interview with CNBC, Gundlach, says I would buy Bitcoin rather than gold in the short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. term, as the main asset trades near the lower end of its range. .
This was his literal answer when the interviewer asked him about whether to invest investing is when you put money in a financial scheme with the intent of making a gain. in Bitcoin or gold:
“Well, I use Bitcoin. You know, Bitcoin has fallen into a range with the high end at 60,000 (dollars) and the low end at 40,000. It seems like every time we get together, it’s either at 60 or 40. The last time it was at 40, so it hasn’t moved since then.”
He added: “Time before that, it was at 60. So, with the range of 40 to 60 and gold in a range of, I don’t know, let’s call it $1750 to $2,000, gold is in the middle of its range, while Bitcoin is at the lower end of its range. So I would take it now, before the next Fed meeting, I’ll take Bitcoin over gold.”
However, he made the clarification that he was talking about in the short term.
It is worth noting that Bitcoin subió a USD $41.717 ayer, luego de que la U.S. Federal Reserve to raise interest rates by 0.25%. . However, it did not represent the leap that many expected. Now, according to data from CryptoMarkets, the price of the main cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. is USD $40,945.
The Federal Reserve decided to raise interest rates for the first time since 2018, following the Bank of England’s lead in raising rates by 25 basis points in line with market an area or arena, online or offline, in which commercial dealings are conducted. expectations.
En reacción a esto, Gundlach dijo que el anuncio de la FED de ayer de un aumento de la tasa de interés es simplemente “siguiendo” al Tesoro a dos años, y agregó que estaban “far behind” .
Here he explains:
The CEO of Doubleline Capital he added: “ Stocks are oversold when a cryptocurrency has been sold by more and more investors over time, with its price decreasing for an extended period of time. and will go up in the immediate term, but will reverse once a couple more rate hikes are made.” Given the growing correlation between Bitcoin and stocks, this could be positive for cryptocurrencies in the short term.
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