• 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
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin 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
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: SEC Strikes: Seeks Temporary Restraining Order To Freeze Binance.US Assets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin 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
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: SEC Strikes: Seeks Temporary Restraining Order To Freeze Binance.US Assets
bitcoin crypto

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

Tony "The Bull" by Tony "The Bull"
3 years ago
in Bitcoin
0

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.

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.

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

godfrey bloom bitcoin

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.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Tony "The Bull"

Tony "The Bull"

Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check him out on Twitter or in his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter and search CoinChartist on YouTube.

Related Posts

Bitcoin

Bitcoin Investors Get Robust Returns In May – How Will Binance Lawsuit Affect Their Gains?

6 hours ago
Rare satoshis

Rare Satoshis: The Rising Star In Crypto After BRC-20 And Meme Coins?

1 day ago
Bitcoin Whale Shark

Bitcoin Sharks & Whales Have Bought 93,000 BTC Since April Top: Santiment

1 week ago
Bitcoin

BREAKING: Bitcoin Mining Industry Spared From 30% Tax In US Debt Ceiling Deal

1 week ago
Bitcoin

Bitcoin Taker Buy Sell Ratio At Highest Since Feb, What Does It Mean?

1 week ago
Bitcoin

Bitcoin Shrimps Continue Aggressive Accumulation As Holdings Hit ATH

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    6 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    6 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    6 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Tornado Cash Developer Set Free, InQubeta (QUBE) Presale...

    48 mins ago
  • Ripple IPO Could Break Every Record, Learn How You Can...

    3 hours ago
  • Axie Infinity (AXS) Price Prediction: Can AXS Bounce Back?...

    4 hours ago
  • Top Cryptos to buy today: TOADS, ADA, RNDR, SOL

    5 hours ago
  • Is PEPE’s hype over? A look at the Next 5 Big...

    5 hours 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
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin 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
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 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.