New financial technologies such as bitcoin may become increasingly attractive to investors as a protection against central bank low- and negative-interest-rate policies that threaten capitalism, according to billionaire bond manager Bill Gross.
Policies by the Federal Reserve, Bank of Japan and European Central Bank are destroying historical business models that foster savings, investment and economic growth, Gross, who runs the $1.5 billion Janus Global Unconstrained Bond Fund, said in an October investment outlook released Tuesday. He said that as investors lose faith in the system, they will increasingly seek havens.
