Kyle Bass, founder of Hayman Capital Management, believes that Bitcoin (BTC) is preparing for an explosive move along with silver and gold. The leading hedge fund manager thinks that the wave of money printing that is available worldwide will be the main catalyst of this growth.
“Silver, Gold, Bitcoin, etc. It seems ready to make explosive movements higher, as money pressure continues all over the world.
Bass Guessed The Housing Balloon
Starting his hedge fund in 2005 with $ 33 million in assets under management, Bass has made a name for himself by predicting the 2008 housing crisis in the USA. The timely bet on the cancellation of subprime mortgages in 2007 resulted in a 200 percent return for its customers.
In April, Bass noted that the Federal Reserve’s timely response to the crisis was the main driver of the stock market.
Fed Puts Unlimited Money Supply
At the end of March, the US central bank announced its unlimited amount of money printing policy. In a way, the USA switched to nuclear energy. The Fed also started buying individual bonds last month.
Bass’s bullish view for Bitcoin reflects the opinions of many other well-known hedge fund executives, including billionaire Paul Tudor Jones. Jones previously announced that he invested nearly 2 percent of his $ 5.1 billion net worth in Bitcoin as a protection against inflation.