post-title Invest 3% in Bitcoin to Avoid COVID-19 Lockdown Devaluation — BitGo CEO

Invest 3% in Bitcoin to Avoid COVID-19 Lockdown Devaluation — BitGo CEO

Invest 3% in Bitcoin to Avoid COVID-19 Lockdown Devaluation — BitGo CEO
Cryptocurrencies News

Coronavirus lockdowns will force people out of fiat currency and into gold and Bitcoin (BTC), the CEO of cryptocurrency asset manager BitGo has warned.

In a series of tweets on Aug. 12, Mike Belshe strongly urged investors to divert a minimum of 3% of their portfolio into Bitcoin.

Belshe: investors will move from cash to gold, Bitcoin

As multiple jurisdictions around the world reenter compulsory lockdown conditions, Belshe said that in the United States, the government had made a prison for itself using the policy.

“The government is being forced to maintain lockdowns for political correctness, which will force them to print money even faster. Institutional investors are flagging this and recognize the devaluation will make cash hard to hold,” he wrote. 

Those institutions hit the headlines conspicuously this week, when billion-dollar corporation MicroStrategy confirmed it had adopted Bitcoin as its treasury reserve asset.

A $250 million buy-in cemented the sense of change, with CEO Michael Saylor highlighting Bitcoin’s unique properties as money.

“They’re looking for alternatives, and it… comes down to Bitcoin and gold,” Belshe continued.  

“If you don’t have some Bitcoin now, it is time to put at least 3% of your net worth into Bitcoin. This is the lowest risk, highest asymmetric upside investment you will likely see in your lifetime. Or stop the lockdown. But still get Bitcoin.”

2020 macro asset returns comparison as of Aug. 12

2020 macro asset returns comparison as of Aug. 12. Source: Skew

Hard money not inflationary paper

As Cointelegraph reported, the premise behind lockdowns has come under heavy criticism from Bitcoin supporters. 

In particular, “The Bitcoin Standard” author Saifedean Ammous has lambasted the measure as being far more detrimental to the population of a country in the long term than Coronavirus.

The criticism follows on from that contained in Ammous’ book and others critical of economic policy based on spending and borrowing, such as Henry Hazlitt’s “Economics in One Lesson.”

A clear relationship between inflationary fiat currency and reduced prosperity means that Bitcoin is the only genuine solution for those who wish to save for the future.

This week, the message became all the more clear as data showed correlation between Bitcoin price action and expanding central bank balance sheets.

About Juan Rodulfo

Defined by Nature: Planet Earth Habitant, Human, Son of Eladio Rodulfo & Briceida Moya, Brother of Gabriela, Gustavo & Katiuska, Father of Gabriel & Sofia; Defined by the Society: Venezuelan Citizen (Human Rights Limited by default), Friend of many, Enemy of few, Neighbor, Student/Teacher/Student, Worker/Supervisor/Manager/Leader/Worker, Husband of Katty/ Ex-Husband of K/Husband of Yohana; Defined by the US Immigration System: Legal Alien; Defined by the Gig Economy: Independent Contractor Form 1099; Studies in classroom: Master Degree in Human Resources Management, English, Chinese Mandarin; Studies at the real world: Human Behavior; Studies at home: Webmaster SEO, Graphic Web Apps Design, Internet & Social Media Marketing, Video Production, You Tube Branding, Trading, Import-Exports, Affiliate Marketing, Cooking, Laundry, Home Cleaning; Work experience: Public-Private-Entrepreneur Sectors; Other Definitions: Bitcoin Evangelist, Human Rights Peace and Love Advocate. Author of: Why Maslow: How to use his theory to stay in Power Forever (EN/SP); Asylum Seekers (EN/SP); Manual for Gorillas: 9 Rules to be the “Fer-pect” Dictator (EN/SP); Why you must Play the Lottery (EN/SP); Para Español Oprima #2: Speaking Spanish in Times of Xenophobia (EN/SP). Social Media profiles: Twitter/FB/Instagram/VK/Linkedin/Sina Weibo: @rodulfox
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