Bitcoin is said to be one of the few hideouts for investors these days, according to an investment analyst.
Speaking to CNBC, Chief Investment Officer of Bleakley Advisory Group, Peter Boockvar started by expressing his stance towards the largest crypto as he said, “I watch Bitcoin as a signal, as an indicator, not because I want to own it, because I’d rather own gold as an alternative currency.”
“Over the last couple of weeks we’ve seen this short rise in Bitcoin and to me that was saying something in terms of what the market was thinking, what the Fed gonna do, the turmoil created by the trade tariffs,” he continued explaining his opinion about Bitcoin as a signal or indicator.
Answering the question regarding which assets he would recommend clients for the second half of the year if the trade tension persists and the Fed embraces strategy, like rate cut due, he said he recommend to buy gold and silver rather aggressively.
Boockvar moved on explaining that he sees Bitcoin more as a signaling mechanism that he thinks as a tipoff to the bouncing gold.