• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Ex-Goldman Sachs Economist: Bitcoin Is Response To World Debt Bubble
Nexo

Ex-Goldman Sachs Economist: Bitcoin Is Response To World Debt Bubble

Wilma Woo by Wilma Woo
4 years ago
in News, Bitcoin, News teaser
0
Advertisement

Tetras Capital founder and ex-Goldman Sachs economist Brendan Bernstein has become the latest source claiming Bitcoin will pop the ‘bubble’ of traditional finance.


Bernstein: Bitcoin ‘Isn’t A Bubble’…

In a series of tweets posted on April 10, Bernstein echoed the Bitcoin Foundation’s founding director Jon Matonis in decrying persisting claims Bitcoin has ever been a bubble.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The comments come during the same the week that UK bank Barclays likened the rise and fall of Bitcoin prices to an “infectious disease,” while Time magazine called the potential for the US to legalize Bitcoin ETFs the “clearest sign yet that the Bitcoin bubble has burst.”

While Goldman Sachs has since taken a more nuanced view after a startup it backed, Circle, bought cryptocurrency exchange Poloniex for $400 million in February, Bernstein goes further than most in directly identifying various “real” bubbles caused by the financial system and governments.

 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Many claim that the BTC bubble has burst. BTC isn't a bubble –it's a response to the very real bubbles in our economy today.

Govt control of money and the most important price in a capitalist economy–the interest rate–has caused distortions and true bubbles. Let's take a look

— Brendan Bernstein (@BMBernstein) April 10, 2018

…$57 Trillion Extra Debt Since 2009 Is

Focusing on the period since the 1970s, Bernstein claims debt forms the central paradigm of engineered bubbles in the US, China and beyond.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Citing data from Mckinsey, he notes global debt has increased by $57 trillion since the financial crisis was in full swing during 2009.

Berenstein explains:

China is on another level. With their maniacal focus on their 6.3% GDP growth target, debt has skyrocketed. Bank asset growth has been 450% since 2008 reaching $40tn.

He further continues:

China has $40tn bank assets to $11tn in GDP. US for comparison has ~$17tn of bank assets to $19tn GDP.

Despite the mixed reviews by Wall Street, analysts such as David Drake predict 2018 will end as a return to fame for Bitcoin as traditional big money waits to get involved.

“…It is logical when institutions put money into crypto because their investments are 1,000x to 10,000x bigger than the average Joe and they will rise. And institutions are going to have to put their money in Bitcoin,” he told Bitcoinist last week.

“There is no other capital preservation token out there, like Bitcoin, because it has the largest liquidity in the world and it is the original one.”

What do you think about Brendan Bernstein’s angle on Bitcoin? Let us know in the comments below!


Images courtesy of DepositPhotos

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Wilma Woo

Wilma Woo

Related Posts

Bitcoin

Bitcoin Koalas: 55% Of Investors Didn’t Sell Their Coins During Crypto Storm

5 hours ago
Crypto

Crypto Rout On Trading Volumes Costs Coinbase $1.1 Billion In Losses

7 hours ago
Bitcoin

Bitcoin Rally Ignites Lackluster Performance Of Crypto Stocks

12 hours ago
bitcoin miners

Bitcoin Miners Sold 5,700 BTC During July, New Report Finds

21 hours ago
Bitcoin

Bitcoin Miner Revenue Slows Down As BTC Price Slumps Sideways

23 hours ago
Crypto

Crypto Markets Have ‘Hit The Floor,’ JP Morgan Says, As Bitcoin Nears $24,000

1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.