A “Big Short” investor, who famously predicted the 2007 housing market crash, is now bullish on Bitcoin. He believes the US dollar is losing value, and Bitcoin is a good way to protect your money.
Dollar Debasement is Driving Bitcoin Investment
Vincent Daniel, co-founder of Seawolf Capital, says he’s holding onto Bitcoin because he thinks the US dollar is getting weaker. He says, “We have a huge debasement of the US dollar and fiat currency.”
Gold and Bitcoin are Safe Havens
Daniel’s partner, Porter Collins, agrees that the US dollar is in trouble. He says, “We have this dollar debasement thesis.” He believes that gold, silver, platinum, and Bitcoin are good investments to protect your money from the weakening dollar.
US Debt is a Big Problem
Collins points to the massive US debt as a major reason for the dollar’s decline. He says, “We hate the deficits. It’s a trillion dollars of debt we’re adding every 100 days and it’s just too much.”
The Bottom Line
These investors believe that the US dollar is losing value, and Bitcoin is a good way to protect your money. They say that Bitcoin is a good alternative to traditional investments like gold.
Disclaimer: This is not financial advice. Always do your own research before investing in anything.
/p>
