Bitcoin is an example of a new innovation that will see the current financial infrastructure governed by central banks challenged, as the current negative/zero interest rates threaten capitalism itself, says billionaire Bill Gross, the financial manager who runs the Janus Global Unconstrained Bond Fund.
In his latest investment outlook letter released today, billionaire bond manager Bill Gross, who runs the $1.5 billion Janus Global Unconstrained Bond Fund has notably picked bitcoin as an attractive storage of wealth for investors, while delivering a damning verdict on the manner in which the central banking system is administered.
The financial manager foresees investors growing “leery and indeed weary” of the standard financial sphere that offers near zero returns on their money. This would see them desert the existing system to turn toward “higher returning or better yet, less risky alternatives,” like bitcoin.
Cryptocurrency observers will take notice of a prominent Wall Street financial manager recommending bitcoin as a “less risky” alternative in comparison to traditional investments that are governed by a system of fiat cash.