Trading Bitcoins

Hedge Funds embracing Bitcoin as Consultancies CEO calls it “A Fantastic Tech.”

Bitcoin Is beeing Admired By A Well Known Hedge Fund

Investors can now hedge against inflation using Bitcoin says CEO of consultancy firm Agecroft Partners.

Don Steinbrugge, the CEO of Agecroft Partners, didn’t hold back his admiration for Bitcoin when talking about the cryptocurrency in an interview earlier this week.

“it’s fantastic technology; some people are using it as a way to hedge against inflation”

Bitcoin price in the last day, taken from CoinDesk

He mentioned that “It’s been an amazing run, it’s fantastic technology; some people are using it as a way to hedge against inflation.”

Steinbrugge was speaking amid the ongoing trade war between the US and China. Analysts predict the latest escalation will help push Bitcoin above $12,000 in the coming days.

The CEO still has his fears in regards to general economic uncertainty in the wake of fiat currency losing its value on a daily basis.

Bitcoin remains inflation hedge

Nonetheless, while investors should take caution in turning their money into equities in the current economic conditions, Steinbrugge had an interesting take on buying Bitcoin. He said

“Right now it’s costly; it’s tough to value, but Bitcoin is going to be here for a long time and long term I think it will be part of a lot of hedge funds’ portfolios.”