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Bitcoin May Touch 5-10 Year Levels "Currently We Can't Imagine," Says Austrian Investor

Bitcoin May Touch 5-10 Year Levels "Currently We Can't Imagine," Says Austrian Investor
Bitcoin
Bitcoin May Touch Levels in 5-10 Years That ‘We Cannot Currently Imagine’, Says Austrian Investor 

Cryptocurrency and Bitcoin dominance aside, Ronald-Peter Stoeferle feels that gold prices will also hit new highs.

Highlights
Ronald-Peter Stoeferle said gold prices may rise to new highs
Said next phase of Bitcoin price increase is yet to start
This will be an era of fiscal dominance, he said
A major fallout of the cryptocurrency craze has been lacklustre gold trading. Most investors are flocking towards these virtual currencies and mostly those averse to risks have decided to stay focussed on gold. In this context, there is already talk about whether gold, as an investment instrument, is dead. Austrian investor and fund manager Ronald-Peter Stoeferle said the sentiment for gold is already so negative that it may soar to new all-time highs in the next few months. About cryptocurrency, Stoeferle, Managing Partner at Incrementum AG, said if Bitcoin is there for the next 5 to 10 years, it may touch a level “we cannot currently imagine”.
During a recent interview, Stoeferle was asked whether he feels that gold is dead and if cryptocurrency like Bitcoin has played a role in undermining the precious metal? He said the global financial markets have reached a “monetary tipping point”.

After this point, inflation will rise, real interest rates will remain negative or near zero, and monetary policy will be less effective for the markets than fiscal policy. According to him, this will be an era of fiscal dominance.

Watch the interview here:


Stoeferle says strong pessimism in the gold industry is a good sign from a contrary perspective. “What's really missing for gold at the moment is investors' demand.” He asserted that Bitcoin and gold are actually very similar financial tools as they are both “hedges against all those big monetary experiments” and fiat money.

Speaking about Bitcoin, the world's largest cryptocurrency, he said the next phase of price increase is yet to start. Bitcoin price in India at 6:30pm on September 15 was around Rs. 37.1 lakhs.

"I think if there is Bitcoin in five to ten years, prices will go into regions that we cannot currently imagine. Because if you really see it as a hedge against inflation, against the big monetary policy experiments, and when you compare it to the size of the real estate market with the bond market… I think there is a lot of catching up to do,” he said.
Source - https://gadgets.ndtv.com/cryptocurrency/news/bitcoin-price-increase-new-levels-5-10-years-cryptocurrency-gold-investor-ronald-peter-stoeferle-2541688#rss-gadgets-cryptocurrency
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