Travis Kling favors Bitcoin as a hedge against a downturn in Economies
Travis Kling, the co-founder and Chief Investment Officer at Ikigai Asset Management, in conversation with CNN made many remarks in favor of cryptocurrencies and their ability to rise as an alternative to the global monetary system. It is interesting to note that Travis Kling was not a crypto fan from the start, and it took him quite some years before the co-founder of the asset management firm finally identified the relevance of digital coins in today’s economy. Admitting himself that once he declined the idea of investing in cryptocurrency, Kling said during his interview to CNN that it is only in 2017 after doing self-study of more than 500 hours that he finally convinced himself of the investment credentials of cryptocurrency. Terming cryptocurrency as one of the most credible inventions in the internet age, Kling borrowed the old saying and said that the invention of the cryptocurrency had been specifically suited to today’s troubled time. Delving deep into the details, Kling noted that in an ongoing tension between monetary and fiscal policy across the globe, cryptocurrency could act as a perfect hedge against the recession. He deliberately used words such as privacy, collective consciousness, and ethical behavior to put Government and Centralized Banks in the dock while emphasizing on the point that cryptocurrency could answer to all these worries. Clearing the confusion prevailing in the minds of the general public about crypto assets, Kling emphasized that this has been due to the reason as Bitcoin and other digital assets have gone through several evolutions in their life cycle, thereby creating confusion in the mind of investors. For the convenience of the viewers, Kling defines Bitcoin as the decentralized, non-sovereign, immutable form of digital currency which provides all desirable aspects related to the safety of the money and its privacy. He went further and described Bitcoin as a hedge against the policies adopted by central banks and government agencies. At a time when all the global economies are facing pressure, Kling said that the Bitcoin, like Gold, has scarcity factor going for it and in the future, it can hedge people against the downturn in their economies.