Pompliano Believes That Bitcoin Should Be Included In Every Pension System In The Future
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This year has been quite mental for everyone and anyone. The pandemic has taken a massive toll on our day-to-day lives and even though we are coming towards the end of harsh lockdown restrictions, the repercussions of this pandemic and recession will echo for the years to come. Specifically looking at the bitcoin and the S & P 500 index, the two have gone through a massive amount of correlation, albeit short-lived. In March, both traditional and crypto markets went to record low levels.
Although this was a short-lived Bear market as crypto assets quickly began to spike as both retail and institutional investors started to move funds away from the risk of hyperinflation due to always happening (still is happening) with the US dollar in America.
The well-known bitcoin advocate and co-founder of Morgan Creek Digital, Anthony Pompliano has highlighted at the quantitative easing continuing throughout the world has left the United States in a 26 trillion debt which can play a massive role in the artificial performance of the stock markets, according to him.
He further said:
“There was an all-time high of quantitative easing announced earlier this year. Today the S&P 500 hit an all-time high. This isn’t a coincidence.”
The pension system gained less than 2% despite the growing stock market. Pompliano believes that the Fiat industry is on its way out and blues at pension systems should diversify their portfolios by holding some of the funds in crypto, specifically bitcoin.
“Every pension system should have 1-5% of their assets in bitcoin. If yours doesn’t, call them and ask why not.”