New World Bank leader may end up being supportive of BitcoinsteemCreated with Sketch.

in bitcoin •  22 days ago

Bitcoin may soon have a friend in a very high place.

Garth Brooks may have friends in low places, but if Donald Trump has anything to say about it, bitcoin may soon find a friend in a very high place.

According to Bloomberg, Mohamed El-Erian is one of several possible candidates that Trump has put on his short list for head of the World Bank.

El-Erian has made several rather bullish remarks about bitcoin over the past year or so.

Saying that he thinks it has a place in our global digital economy among other things...

Some of his remarks:

Back when bitcoin was running up he said it was likely worth about $2k and that investors were overstating its value currently...

It was trading for about $4k at the time.

That one wasn't explicitly bullish, but at least he said he thinks it is worth something, which some of his colleagues don't necessarily agree with.

His next remark was much more bullish...

He stated that if bitcoin were to fall below $5k, he thinks that is a good spot to buy some.

At this time prices were about $8k, and he said:

"What we’re getting is the realization that adoption is not going to be as big and as quick as the proponents of crypto would like. I think it’s going to be there, it’s going to last for a long time, it’s going to play a role in the ecosystem, but it’s not going to be the currency that a lot of proponents would like it to be."

(Source: https://www.ccn.com/donald-trump-mulls-bitcoin-bull-to-lead-world-bank/)

Will this actually happen?

That is the question.

Normally the executive board decides who would be next to join the World Bank, however, Bloomberg indicated that Trump will likely have a very big say in who gets chosen, especially if he chooses a sensible candidate.

And El-Erian is on Trump's short list and is as sensible as they get.

While it might not be a for sure thing, there is at least a decent shot that it happens.

Stay informed my friends.

Image Source:

https://www.investmentnews.com/section/icons-and-innovators/2017/profile/8/Mohamed-El-Erian

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It's always nice to see some level headed responses from someone at that level. It doesn't have to be bullish or bearish comments, but when you see comments like

"I think it’s going to be there, it’s going to last for a long time, it’s going to play a role in the ecosystem, but it’s not going to be the currency that a lot of proponents would like it to be."

at leasts lets people know that he won't try to interfere. It's always hard to tell though if he's stuck in a position like that if he'll keep marching to the same beat or change his tune based on external pressures.

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Very good point. I just like the fact the admits it will be around a while. Some of his colleagues say it is going to zero and won't be around 10 years from now.

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funny thing is that Erian means "naked" in Arabic

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Unfortunately for him he didn't get to choose his last name.

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it can be a punch line for the wifey
"hey baby, I am "naked"

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Interesting turn of events. It’s sure a good sign to see some forward thinkers moving up the ladder.

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Yes, if he gets appointed, it certainly won't be bad news.

Super bullish!!

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I am thinking so as well.

I don´t know if the pattern is: people who believe in crypto are more successful (at least becoming) :D

Or, (more realistically) the number of people believing that BTC is increasing at an incredible pace because more and more we are seeing influential people proclaiming they do think crypto is "good" (crypto is here to stay and change the future).

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Ha, maybe a little bit of both.

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He is probably a great candidate given his knowledge in the fixed income and debt markets which is currently in its own bubble. He could make a push to more transparency which could bring on inflation and demand to cryptocurrencies and precious metals as participants realize heightened risks in the markets!

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Yep, I could see that as well. I have listened to him for a while on CNBC. He's a good one to have in crypto's corner. Well at least bitcoin's.