- BitGo CEO Mike Belshe said that investors are increasingly turning to gold and BTC.
- He urged people to divert a minimum of 3% of their portfolio into Bitcoin.
Mike Belshe, the CEO of cryptocurrency asset manager BitGo, recently took to Twitter to warn that COVID-19 lockdowns will force people out of fiat currency and turn to Bitcoin and gold. Belshe has urged his followers to divert at least 3% of their portfolio into Bitcoin.
The CEO noted that the US government’s decision to impose a lockdown due to “political correctness” will increase the devaluation of fiat currencies, making it difficult for citizens to hold them.
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.
According to an earlier Cointelegraph report, MicroStrategy, a billion-dollar corporation, announced that it had adopted Bitcoin as its treasury reserve asset. Belshe noted that institutional investors are increasingly turning to gold and Bitcoin amidst uncertain times. He urged people to start investing in the leading digital asset if they already haven’t
They're [instittional investors] looking for alternatives, and it… comes down to Bitcoin and gold. 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.