CME Trader Buys Bitcoin Dip at $10,000 Because It’s a ‘Genuine Dollar Hedge’

Jim Luorio, a managing director at TJM Institutional Services and a trader on CNBC’s Futures Now, believes the bitcoin dip at the $10,000 level is worth considering.

In recent months, various data including the consistent inflow of institutional capital through regulated products such as Grayscale’s Bitcoin Investment Trust (GBTC) and the noticeable spike interest towards crypto assets in China has indicated that a growing number of investors may be considering the asset class as alternative safe haven assets.

There are safer and more reliable products for investors to utilize to hedge their holdings in the likes of treasuries, bonds, cash, and gold but it is possible that intensifying geopolitical risks are encouraging investors to explore an emerging asset class in crypto assets as alternatives.

Reference: https://www.ccn.com/crypto/cme-trader-buys-bitcoin-dip-10000-dollar-hedge-safe/2019/07/03/

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