Bitcoin advocate Bill Gross announces retirement from active bond investment

Bill Gross retirement
Bill Gross retirement

Bitcoin advocate and Serial investor Bill Gross has announced his retirement from active bond investment to manage his own funds. Gross who was named the “bond king” for his role in active bond-trading almost 50 years ago, achieved fame and notoriety in equal measure for his investment advice to pick bitcoin over central banks.

In a 2016 investment letter for the Janus Henderson Global Unconstrained Fund, Gross painted a picture of a post-apocalyptic future where existing financial paradigms are overwhelmed and replaced by cryptocurrency.

Gross has ended a sparkling career as one of America’s most successful fixed-income investors over the past 50 years, with the perhaps undeserved reputation of a maverick.

However, it must be noted that Gross had a somewhat complicated opinion on bitcoin, variously praising it as an attempt to store value similar to gold and at other times describing it as a volatile currency with little suitability for the needs of modern commerce. When Warren Buffet described bitcoin as a “mirage” in 2016, Gross said:

Bitcoin and privately negotiated blockchain technologies among a small group of global banks are just a few examples of attempts to stabilize the value of current assets in terms of future purchasing power. Gold would be another example.

3 Comments

  1. Thanks for your publication on this weblog. From my very own experience, many times softening up a photograph could possibly provide the photo shooter with a little an inventive flare. Many times however, that soft cloud isn’t just what you had at heart and can sometimes spoil a normally good snapshot, especially if you consider enlarging it.

  2. It is appropriate time to make some plans for the future and it’s time to be happy. I have read this post and if I could I desire to suggest you few interesting things or advice. Perhaps you can write next articles referring to this article. I want to read more things about it!

  3. You could definitely see your expertise in the work you write. The world hopes for even more passionate writers such as you who are not afraid to say how they believe. At all times follow your heart.

Leave a Reply

Your email address will not be published.