Marcelo Claure, the former chief executive of SoftBank, says he now devotes 10% of his entire holdings to Bitcoin (BTC).
During a panel discussion at the Bitcoin 2022 Conference, Claure argues that governmental monetary policies have led to inflation across the globe.
He says fears over the potential for an upcoming recession drove him to increase his BTC holdings by 80-90%.
“Traditionally, capital allocators — the safe thing that was said to us was, ‘Hey, keep everything at 2%.’
So to us, we’re starting to see Bitcoin as one of the safest ways in order for us to maintain our wealth, but more importantly, also it’s probably the only investment that exists today where the potential of gains is so much larger than the potential of an asymmetry.”
Claure left the Tokyo-based SoftBank in late January. He currently serves on the board of directors for T-Mobile and is the chairman and CEO of the Investment firm Claure Capital.
Bitcoin is trading at $43,411.96 at time of writing, trading even on the day.
The top-ranked crypto asset by market cap is down more than 4.7% in the past seven days but up more than 11.5% on the month.
IDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/prodigital art/Natalia Siiatovskaia