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The Quantum Fintech Founder, Harry Yeh, has revealed that he believes the BTC price surge results from dollar inflation. He noted that investors should focus on assets that can fill up their portfolios rather than scepticism of a possible financial collapse.
Quantum Fintech Founder Points Out That Dollar Inflation Is Favoring BTC.
Harry Yeh is the founder and managing partner at Quantum Fintech. He has suggested that the ongoing dollar inflation positively affects the value of BTC. While speaking to Bloomberg, Yeh noted that current Federal Reserve policies empower BTC. He believes the printing and release of more money to the US economy is powering BTC as an alternative to the dollar.
He also noted that cryptos have evolved past the fear of crashing to being a key player in investors’ portfolios. Yeh added that multiple institutions and individuals now do not fear adding these assets to their investment holdings. Harry Yeh also advised investors to focus on what assets can comfortably occupy their portfolios rather than on the fear of potential collapse.
He added that the current inflation rates are friendly to the crypto market. He noted that these developments give coins like BTC a chance to prove that they cushion against inflation.
Harry Yeh Advises Investors On Cryptocurrencies.
According to Harry Yeh, it is not about the lifespan of the cryptocurrencies but the investment strategy of each one regarding cryptos and blockchain. He believes that BTC and other cryptos give a hedge against inflation rates facing many countries right now. He also said that as much as the US continues to print more money, the value of BTC will rise; however, it’s more accurate that the dollar will weaken be becoming valueless.
He also highlighted that getting involved in the crypto market is more straightforward simpler than stocks. The investors can start trading assets of choice in the crypto market with any amount, unlike in the stocks market.
With the federal Reserve concerned about the dollar inflation, he said their ongoing tapering would favor BTC more than any stocks. He also acknowledged that although BTC tends to trade with other risk assets, it has the upper hand since inflation affects traditional assets.
Influential Figures Advice about Cryptocurrencies
The Quantum Fintech founder is not the only influential figure discussing inflation and cryptocurrencies. Recently, The founder of Bridgewater Associates, Ray Dalio, also gave his advice.
According to him, Cash is the worst investment that anyone can think of right now. He said that this form of investment could see the value of initial investment dwindling due to the ongoing inflation spike.
He also believes that investors should consider BTC to diversify their portfolios and evade inflation. Mark Cuban, a billionaire, also thinks that people should invest more in BTC and cryptocurrencies to cushion against spiking inflation rates.
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