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.
