Fund manager Travis Kling believes that more people are becoming open to the idea of Bitcoin being a haven from central banks’ “irresponsible” monetary policy.
Bitcoin is Becoming a Safe Haven
Travis Kling, chief investment officer at Ikigai Asset Management, believes that more people are becoming open to the idea of Bitcoin being a haven from uncertainties in the mainstream market.
According to MarketWatch, Kling suspects that the recent decisions of the Fed, the European Central Bank (ECB), and the Bank of Japan among others with respect to monetary policies played a role in the April bitcoin price surge.
The Ikigai fund manager says central bank policies becoming more politicized might be causing a great deal of anxiety for investors. To deal with such uncertainties, many are flocking towards Bitcoin and other virtual currencies.
Commenting on the matter, Kling opined:
It’s [Bitcoin] become a hedge against irresponsible monetary and fiscal policy. We had the Fed do a complete U-turn into dovish mode, then everyone…