Ex-JPMorgan Strategist: Euro Collapse Will Fuel Bitcoin’s Growth
A bitcoin investment firm led by two former JPMorgan traders has published a note which speculates that the EU referendum in the UK could lead to the ultimate decline of the euro, thus boosting the value of the digital currency.
The comments follow positive appreciation in the price of bitcoin after the UK announced it would leave the European Union last week, an event some market observers believe allowed the non-governmental digital currency to showcase its advantages as a hedge in times of uncertainty in more traditional markets.
As a result of the event, Global Advisors Bitcoin Investment Fund (GABI) owner Russell Newton wrote in an email to investors that it is time for them to begin preparing for the “ultimate death” of the euro currency.
The former JPMorgan commodities strategist wrote:
This post was published at Coin Desk on June 27, 2016.