The billionaire asset manager believes that bitcoin is becomingly an increasingly attractive alternative to investors as central bank low- and negative-interest-rate policies that threaten capitalism.
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Bill Gross: central banks are pushing investors to Bitcoin
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What that outflow might look like, Gross didn't elaborate on. However, he opined that markets are in a very risky position and that "it is capitalism itself that is threatened" by current central bank policies, which since the 2008 financial panic have pursued a strategy of low interest rates and the monetization of debt. "Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound," Gross wrote, concluding:
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