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Bitcoin Investment Makes Sense in Current Economic Climate: Former Fed Governor
"I guess if you are under 40, bitcoin is your new gold," Warsh said.
Updated Sep 14, 2021, 10:52 a.m. Published Jan 6, 2021, 5:38 p.m.
Bitcoin investing makes sense as part of an investment portfolio in this current economic environment with a weak dollar, former U.S. Federal Reserve Governor Kevin Warsh said during a Squawk Box interview on CNBC.
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- Warsh said part of the current large inflow of funds into bitcoin has come from gold. "I guess if you are under 40, bitcoin is your new gold," the former Fed governor said.
- “I think that bitcoin does make sense as part of a portfolio in this environment where you have the most fundamental shift in monetary policy since Paul Volcker ... I’m not surprised bitcoin is doing what it is doing,” said Warsh.
Read more: Bitcoin Sets New All-Time High Above $35K
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
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- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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