Recently, Bloomberg made a brief summary of the events that took place regarding Bitcoin (BTC) and the global economy against Coronavirus. Basically, the question is: Is Bitcoin a good investment?
What does Bloomberg have to say about Bitcoin?
For those of you who don’t know, Bloomberg is a finance, software, data and media company founded in 1981 by Michael Bloomberg. And, in 1990, Bloomberg News was founded to deliver financial news reports to Bloomberg Terminal subscribers.
Over the years, Bloomberg’s platform has undoubtedly gained a significant user base for financial reporting.
In this sense, we can recognize the importance of this news about Bitcoin.
Bloomberg’s note places us in the current context: World economies dealing with Coronavirus through cash injection while Bitcoin faces its third Halving.
As we explained earlier in CryptoTrend, Bitcoin faced its third Halving on May 11. This particular event was different from previous ones, and the reason, explained simply, is because of the context in which it happens.
Bloomberg reminds us that, as many of us already know, Bitcoin’s
Halving aims to protect cryptomoney from inflation. There is a limited amount of supply, no more and no less, and therefore it is not up to anyone to decide whether or not to create more BTCs.
We therefore have a cryptomoney that becomes scarcer over time as governments decide to create major stimuli to strengthen the markets and the global economy.
In this regard, Bloomberg emphasizes a troubling reality: central banks lower their interest rates and increase bond purchases (cash injections), while governments devote giant sums to cushion the blow of the virus on the economy.
Evidently, the event has generated excitement among Bitcoin fans as many consider that it is time for the cryptology to shine.
In fact, Jean-Marie Mognetti, CEO of CoinShares, is quoted by Bloomberg as saying, Bitcoin Revolution App, Is Bitcoin Evolution A Scam, Is Bitcoin Code Safe, Immediate Edge Review, Bitcoin Trader Trading, Bitcoin Era Platform, Bitcoin Profit Review, Is Bitcoin Billionaire Real, Is The News Spy Safe, Bitcoin Circuit Reviews, a digital currency whose supply is programmatically defined to be reduced to its maximum supply, seems to be the perfect cover for any institutional investor portfolio.
Paul Tudor buys Bitcoin futures as an inflation hedge
Welcome to the bunker
The context has led many to begin to see Bitcoin as the bunker needed to survive the apocalypse or even the rocket that will send us to a habitable planet after the Earth is consumed.
Many of us already saw it that way before the crisis, however, the main welcome to the ship or the bunker is for institutional and traditional investors.
One of the most important entries that occurred recently was that of Jones of Tudor Investment Corp.
As we mentioned at the time, this is a traditional investor who decided to bet on Bitcoin as a possible safe haven from the crisis.
In the report where Jones notified his recent and controversial bet, he assured that “we are witnessing the Great Monetary Inflation”.
Evidently, such an investor offering a vote of confidence to the cryptomoney raised the spirits in the cryptomarket.
Bloomberg quoted Simon Peters, an eToro analyst, who said that Jones’ raid could boost the entry of other high-profile names to support Bitcoin.
It’s a matter of numbers: “Bitcoin has been one of the best performing asset classes of the year,” Bloomberg said.