Published On: Tue, May 30th, 2017

CNBC Analyst: Bitcoin Can ‘Ease Strained Global Financial System’

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CNBC has championed the views of an investor that Bitcoin is an “attractive investment” and could “ease the global financial system.”
Michael Preiss: Bitcoin Can Be ‘Alternative’ The World Needs
In an article which strongly contrasted with the news resource’s tone last week, CNBC quotes Taurus Wealth Advisors executive director Michael Preiss, who is bullish on Bitcoin’s future.
“Bitcoin’s market capitalization overtook Deutsche Bank just as of last week, so that shows you how to some extent the world and things are changing,” he told its Capital Connection show Tuesday.

Deutsche Bank’s cap had slid to $39 billion last week, while Bitcoin’s had surged to $41 prior to Saturday’s 20% price drop.
Regardless of the weekend’s volatile price action, however, both Preiss and CNBC now appear to have more time for the virtual currency.
“Governments are potentially having long term issues with debt repayment and the world is suffering so much debt. Maybe the world needs an alternative — in the sense that [bitcoin] is an asset-backed currency with limited supply,” he postulated.
CNBC’s Bitcoin Schizophrenia In …

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