Currency Economy

Former Prudential CEO Calls Crypto an ‘Attractive’ Addition to Any Investment Portfolio

The former chief executive officer of Prudential-Bache Securities says cryptocurrencies represent a good addition to any investment portfolio. 

Speaking in an interview with Yahoo Finance, Wall Street veteran George Ball called cryptoassets an “attractive” consideration for the investing public. He claimed most of the investment community was rightly concerned over the actions by the Fed, including the proposal for another $1.9 trillion stimulus package. 

Ball said:

The investing public right now is worried—and the professional investors are worried—that the Fed is behind the curve. That the amount of stimulus envisioned is perhaps greater than that which would be helpful over the next year or two to the economy.

Ball predicted an “extremely vigorous” market rebound occurring in late 2021, saying most investors were trapped with the possibility of a short-term correction or long-term inflation. He noted bitcoin served as a potential hedge against both scenarios. 

He explained:

The best hedge against an at-risk market is cash. Cash lets you sleep securely at night and take greater risks with the investments you do make. With the cryptocurrencies, I think there is a fundamental hydra-headed shift that makes them attractive as a part—small part—of almost any portfolio. 

Featured Image Credit: Photo via Pixabay.com

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s