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Home / Business / ‘Bond King’ who called Bitcoin a lie now says that BTC is a hedge against inflation

‘Bond King’ who called Bitcoin a lie now says that BTC is a hedge against inflation



Bitcoin (BTC) is a recommended safeguard against fiat currency inflation along with gold, said one of today’s prominent critics.

During an appearance on Rosenberg Research’s webcast series on November 2, Jeffrey Gundlach, CEO of investment management firm DoubleLine, offered rare praise for Bitcoin.

Bitcoin’s 1-year chart against gold. Source: Skew

Gundlach advises Bitcoin and gold to protect fiat currency

Gundlach, known as the “King of Bonds”

;, is not uncommon to discuss Bitcoin, but has made it clear that he will not invest.

In an interview with Business Insider last month, the billionaire called Bitcoin a “lie,” based on previous claims that he did not believe it was “not deceiving”.

“I don’t believe in bitcoin. I think that’s a lie. I think it’s very trackable, trackable. I don’t think it’s anonymous, ”he told the publication.

However, Gundlach asserts that he is “totally not a Bitcoin hater” – a comment he seems to consolidate this week.

Telling the listener they should own something to prevent inflation, he mentioned gold and Bitcoin as good possibilities.