Former CEO Of Prudential Securities Classifies Bitcoin As A Safe Haven Author: Ali Raza Last Updated: 17 August 2020 Goerge Ball stands as the former CEO of Prudential Securities, and current CEO of Sanders Morris Harris. In a recent interview done by Reuters, he suggested that Bitcoin (BTC), as well as other cryptocurrencies, could serve as a “safe haven” for traders and investors, particularly as an alternative investment. Government Pushing Big Players To Alternatives Ball had previously claimed that he was an opponent of Bitcoin and blockchain in general. However, in an interview on the 14th of August done with Reuters, he stated that Bitcoin and other crypto stands as a very attractive option, both in the short term and long term. He predicted that a lot more people will turn to crypto when Labor Day is over. Ball cited the fact that the government can’t continuously stimulate the markets to stay afloat, warning that the flood of liquidity will end, eventually. He stated that the government will have to start paying for these stimulus it’s been shelling out, sooner or later. Alongside this, it will pay for some of the subsidies that it’s provided for the people, as good a move it was, as well as the deficits it’s been seeing lately. Ball asked what the government was going to do to compensate for this, with the options being new highs in taxation, or money printing. Ball had a particular problem with money printing, as it would debase the value of the USD, and would even affect things such as treasury inflation-protected securities (TIPS). Government-Free Investment Plans With this, Ball anticipates that wealthy traders and investors will turn to Bitcoin, or something similar, to serve as a staple. With this, he stands as one of the many people that have minted at the growing interest cryptocurrencies have gained with investors of high net worth. Ball further stressed that seeking cryptocurrencies as an alternative means of investment shouldn’t be done as a way to find a tax refuge. Instead, he encouraged its use as it can’t be undermined by the government, at least not outright. A New Growing Trend Ball isn’t the first, nor probably the last, that has taken notice of the new trend of investment following the COVID-19 pandemic’s wake. The CEO of Galaxy Digital, Mike Novogratz, went public on Bloomberg TV back in April this year. There, he observed the new influx of players within the crypto industry, notably high-net-worth individuals and hedge funds. These players have been buying cryptocurrencies due to the COVID-19 pandemic and the massive financial shakeup it’s caused.