High time to invest in Bitcoin BTC says Prudential Financial former CEO

By: Ben Gabriel
Ben Gabriel
Ben is a cryptocurrency journalist, simple. He's also a technology and cryptocurrency geek having enjoyed immersing himself in the culture. Ben's… read more.
on Aug 21, 2020
  • George Ball, the former CEO of Prudential Financial says that bitcoin will surge even higher in September 20.
  • Ball said that investors should buy Bitcoin as it is the fastest horse in the race.
  • Ball spoke about Bitcoin for the first time because he has always been a crypto-opponent.

George Ball, the former CEO of Prudential Financial was recently interviewed by Reuters. Ball was bullish on Bitcoin although he has been criticizing Bitcoin because of its use cases for quite some time.

This was a video interview where he was urging global investors to adopt a long term approach by investing in Bitcoin. Ball said, one of the main reasons to acquire Bitcoin is because it is not governed by a particular authority.

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Over a few years, Bitcoin has managed to make an impact on the financial system. From accepted nowhere to accepted everywhere, Bitcoin BTC/USD has made remarkable progress.

Besides, Ball made comments on how the COVID-19 crisis is affecting the US Dollar, and investors are seeking a new safe haven. After being an opponent of BTC for a long time, Ball expects its price to skyrocket in the near term. 

In the interview, Ball explained why he turned into a Bitcoin proponent:

“I’ve never said this before, and I’ve always been a blockchain, cryptocurrency, and bitcoin opponent. But if you look now, the government cannot stimulate markets forever.”

“So the very wealthy investor or the trader probably turns to bitcoin or something like it as an option” Said Ball.

He further warned the investors to prepare for the inevitable circumstances saying:

“The approach of the end of that road is going to be a lot closer by the fourth quarter than it is now and therefore both traders and investors should and probably will realign their portfolios substantially.”

Liquidity pump will end shortly

Sharing his concerns regarding the recent liquidity pump, Ball said:

“Traders and investors are going to worry about what happens when you can’t kick the can down the road in terms of stimulus or subsidizing people any longer. The liquidity floods will end sooner or later.”

Considering the journey of Bitcoin, it is no wonder why global investors are turning to bitcoin as a safe heaven. After investing a huge amount of his wealth in Bitcoin, Ball is keen to see Bitcoin breaking the 12k barrier.

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