Bloomberg Panel: BTC Looks More Attractive In Times Of Uncertainty

The founder of Pfeffer Capital, John Pfeffer, has recently spoken together with Travis Kling who is the founder and CIO of Ikigai Asset Management and Charles McGarraugh, the head of markets for Blockchain in a Bloomberg panel where they covered topics related to Brexit, trade wars and geopolitical uncertainty.

The panel of them three also covered the topic of Bitcoin with Bloomberg’s host Alastair Marsh at the Future of Digital Assets briefing in London. They took a closer look at the idea that Bitcoin becomes more attractive as an investment during times of global uncertainty.

As they said in the Bitcoin news today, the idea that BTC does indeed become more appealing during threats or recessions and general global uncertainty was kicked off by Charles McGarraugh, who said that he “totally buys into that idea.”

John Pfeffer continued and noted that BTC is poised to become digital gold. Sooner or later that is going to happen,” Pfeffer said at the Bloomberg panel, pointing out that if BTC were already considered as today’s digital gold, the upside of it would not be the same as it would be worth at least one or two orders of magnitudes more. Pfeffer continued stating the following:

“We think of [BTC] in our portfolio as it goes into our venture portfolio. […] It is a venture that aspires to become digital gold, and is showing great promise of doing that. Because it hasn’t done that yet […] there is a lot of upside, but also downside.”

Travis Kling was next to speak at the Bloomberg panel. He gave perhaps the most direct answer when he said that Bitcoin is a risk asset – one with specific investment characteristics “that become increasingly more attractive the more irresponsible monetary and fiscal policy is from central banks and governments globally,” adding:

“Investors in BTC today aren’t investing in Bitcoin as a store of value today, we’re speculating that it may become a store of value because it has the characteristics to be a good store of value.”

Kling also pointed out that if the United States was still on the gold standard and was balancing its budget every year (instead of spending a trillion dollars more than they collect), “we might not need Bitcoin so much.” However, as Kling puts it, “that ain’t the world we’re living in.”

Meanwhile, the news today show that Bitcoin is losing support below the $8,000 region and altcoins are following this trend.