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The Many Reasons British Politician Godfrey Bloom Is Buying His First Bitcoin

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin
0
Advertisement

This week, former British politician, author, and more, Godfrey Bloom revealed his plan to buy his first Bitcoin. But why? Here are the three primary reasons that the former parliament member would consider investing in the leading cryptocurrency by market cap.

Who Is Godfrey Bloom, And Why Did He Decide To Buy Bitcoin?

Godfrey Bloom was born in 1949 in London, England. From an early military career, Bloom turned his expertise toward economics. Later on, he became the director of an investment firm, before getting into politics.

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He also served as a member of the European Parliament for Yorkshire and the Humber. The outspoken political was famously booted from the Mansion House in 2009 for “heckling” Lord Turner for giving his staff sizable bonuses after the regulatory failure of 2008 and resulting economic fallout.

RELATED READING | OWNING BITCOIN “IS A MUST” SAYS PRICE OF TOMORROW AUTHOR, JEFF BOOTH

Bloom also wrote a book that Bitcoin fans will love, entitled The Magic of Banking: The Coming Collapse. In the book, he calls attention to the coming collapse in not only banks but fiat currencies also – due to decades of poorly managed monetary policy. Also between the book’s two covers, Bloom discusses what he reveals to be the only form of hard money: gold.

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Is Bloom now considering Bitcoin as another form of hard money, ready to face a failing fiat system?

godfrey bloom bitcoin

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BTCUSD Weekly Godfrey Bloom Buys Bitcoin Over $10,000 | Source: TradingView

Three Reasons This Former Parliament Member Is Putting Capital Into Crypto

Godfrey Bloom, one of the smartest men in politics and finance, is buying Bitcoin at over $10,000. The fact that someone of these credentials alongside the likes of Paul Tudor Jones and MicroStrategy CEO Michael Saylor, speaks volumes about what the cryptocurrency’s potential could be.

Bloom, an enormous advocate of gold, could be considering Bitcoin as a digital form of the precious metal with an even more scarce supply due to its hard-capped code.

He also may be leveraging Bitcoin as a hedge against inflation, if he believes in total failure in the fiat-based system that the entire global economy is currently built on.

RELATED READING | HOW THE DOLLAR’S FALL FROM THE TOP COULD FUEL THE FUTURE OF BITCOIN

Bloom may be looking at Bitcoin as an insurance policy against uncertainty. The technology is new, compared to the rest of finance, but from new technologies comes major transformations. Bitcoin’s potential use cases aren’t fully realized and will take time to fully develop.

He likely believes that there’s at least some chance that Bitcoin could blossom into an important piece of any smart investor’s portfolio. Bloom himself holds a portfolio of 65% gold, 8% silver, and the rest in real estate. And soon, according to Bloom himself, Bitcoin.

Bloom plans to confer with crypto experts over Twitter, the platform where he revealed the news, to learn more. Despite his age, he’s likely to take just fine to the technology unlike other goldbugs like Peter Schiff, as Bloom operates his own successful Youtube Channel as well.

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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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