Dec.07 — Bill Gross, fund manager at Janus Henderson, discusses the bitcoin surge’s effect on bond prices, the yield curve, rate hikes, and the Fed on “Bloomberg Markets.”
In looking at your latest monthly investment outlook you say be careful in 2018, and one area that certainly requires caution is Bitcoin. Tell us first what your Reed is on bitcoins relentless search – sixteen thousand past sixteen thousand sure well Bitcoin search depends upon its potential for replacement or else quite incidental use of the Bitcoin as a medium of exchange.
A dollar-based type of currency and you know for Bitcoin to do that first of all have to gain momentum and popularity, it has to serve as a medium of exchange in a store of value neither the store of that you the price has gone up and so obviously there’s been some value there, but sooner or later it will go up and down and the volatility itself may you know to inhibit Bitcoin from being a currency such as the Euro or the dollar, in addition you know the medium of exchange.
You know inhibit Bitcoin from being a currency such as the Euro or the dollar, in addition, you know the medium of exchange that Bitcoin hopes to fulfill, it has a problem because there’s only going to be 21 million of them and they’re priced at fifteen sixteen thousand dollars a unit and so you know buying a bag of groceries at the grocery store with a Bitcoin that’s going to be a little difficult yeah I love how you always can bring it…Watch the video for more.