Travis Kling, founder of cryptocurrency investment management company Ikigai, described Bitcoin as a half-price “hurricane insurance”.
Travis Kling, founder and chief investment officer of the cryptocurrency investment management company Ikigai, described Bitcoin as an insurance against both economic crises and American fiscal policy .
Kling called on people to buy Bitcoin, stating that a hurricane is approaching, which will cause great damage with reference to the current economic environment.
The fund manager said, “You can still get your hurricane insurance. People panicked insurance policies because they wanted cash. This is now on the half price compared to a month ago, even when the hurricane is clearly on the door. ” said.
Is Bitcoin a “safe haven”?
While Kling implies that Bitcoin is a “safe haven” in these words, this attribute attributed to the leading cryptocurrency is the subject of debate. One of the most remarkable criticisms of Kling came from former Wall Street analyst Jon Horvath. Horvath understandably said, “Hurricane insurance that I lost money in a hurricane is not a very good insurance.” commented.
Since Bitcoin, the global coronavirus outbreak hit the economy, stocks have suffered great depreciation along with gold and bonds. The crypto currency, which was traded at $ 10,200 a month ago, is changing hands at $ 6,200 when the news goes live.
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