Banks now have clients that are involved in Bitcoin. Gold could now become a diversification tool for Bitcoin profits…
Tom welcomes Vincent Lanci back to the show. Vincent discusses the lack of fireworks from the Basel III banking changes. He believes these rule changes will be good for most investors because there will be less hedging. However, these changes will be worse for mid-sized institutions. However, these rules have been coming into effect over several years, so it should not be a big surprise to anyone.
He believes large investors of Bitcoin are now investing some of their holdings in banks like JP Morgan. Banks now have clients that are involved in Bitcoin. Gold could now become a diversification tool for Bitcoin profits.
He gives some key advice on why investors should hold some Bitcoin, especially if you have gold.