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With the Federal Reserve seeking aggressive tightening and placing a great deal of pressure on the U.S. economic situation, an economic downturn is coming next year, said Celsius Network chief executive officer Alex Mashinsky.
One of the most effective approaches entering into this atmosphere is not to combat the Fed. And also this indicates getting out of the U.S. securities market, Mashinsky informed Kitco Information' Editor-in-Chief Michelle Makori as well as support David Lin on the sidelines of Bitcoin 2022 in Miami.
" I typically say don't combat the Fed. Battling the Fed today is owning supplies, having equities … I sold all my supplies. If you don't intend to deal with the Fed, get out of the way," he stated.
As well as after closely mirroring the efficiency of tech stocks, Bitcoin is ready to separate as well as begin its action towards the $100,000 degree– a target that Mashinsky is anticipating for this year.
" From the get go of the year, the stock exchange has actually been down, but Bitcoin has recuperated the majority of its losses. We are seeing separation, implying Bitcoin is lastly beginning to behave as a security asset. That's why I am offering my supplies and also purchasing more Bitcoin," he said.
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Don't fight the Fed: get out of stocks and buy more Bitcoin, says Mashinsky
With the Federal Reserve pursuing aggressive tightening and putting a lot of pressure on the U.S. economy, a recession is coming next year, said Celsius Network CEO Alex Mashinsky.
One of the best strategies going into this environment is not to fight the Fed. And this means getting out of the U.S. stock market, Mashinsky told Kitco News’ Editor-in-Chief Michelle Makori and anchor David Lin on the sidelines of Bitcoin 2022 in Miami.
"I normally say don't fight the Fed. Fighting the Fed right now is owning stocks, owning equities … I sold all my stocks. If you don't want to fight the Fed, get out of the way," he said.
And after closely mirroring the performance of tech stocks, Bitcoin is ready to separate and begin its move towards the $100,000 level — a target that Mashinsky is forecasting for this year.
"From the beginning of the year, the stock market has been down, but Bitcoin has recovered most of its losses. We are seeing separation, meaning Bitcoin is finally starting to behave as a safety asset. That's why I am selling my stocks and buying more Bitcoin," he said.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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