Bitcoin and private blockchains offer an alternative to investors losing faith in centrally planned economic models, said billionaire investor Bill Gross. He warned that these central bank policies around the world “threaten capitalism” and real growth.
Also read: Janet Yellen’s Next Big Idea: Use Fed Money to Pump Stocks Directly
The high-profile fund manager and philanthropist said central bank policies were like gamblers, doubling down on bets each time they lose. The problem is, he added, that only works if you have an unlimited supply of new money.
Moreover, central banks’ more recent policies — like low or negative interest rates — threaten the very fundamentals of capitalism. These include a need to foster savings, promote investment and produce real economic growth.
Bitcoin an Alternative for Banks as well as Individuals
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