Bill Gross (pictured), the billionaire fund manager dubbed by Fortune Magazine in 2002 as “the Bond King,” has revealed in a recent interview he bought bitcoin.
“I do think we need an alternative to the dollar as we’ve seen in the last week or two and that you know, there will be several survivors and I’m invested to a small extent in bitcoin,” Gross said.
He used to be a crypto sceptic, as was everyone initially, but also tweeted in 2018 Jennifer Zhu Scott, named as one of the top 50 women in tech, stating at Davos:
“I think Bitcoin is disrupting gold. If you think about what gold is doing as a reserve today, Bitcoin can do that better.”
Gross is the co-founder of Pacific Investment Management Co. (PIMCO) and used to run the $270 billion Total Return Fund (PTTRX).
He is credited with inventing active, aggressive bond investing as previously bonds were just kept in a vault rather than being actively traded.
Now that inflation is skyrocketing, he is going bitcoin, stating “I do think there are survivors,” amid some significant on-going market turbulences.
Source: https://www.trustnodes.com/2022/03/15/the-bond-king-buys-bitcoin