US billionaires defend themselves with Bitcoin and gold

The US election has taken a long time to release the results, but it already causes investor fears. According to Bloomberg, fears over the vagueness of the next US president have led billionaires to adopt a Bitcoin, gold and silver defence.

The assets would be in the eyes of big investors good reserves of value. In other words, no matter which president takes over the post, the billionaires would be waiting in safe assets.

However, the same billionaires have escaped traditional investment. Those who were bought in real estate, for example, even started a sales movement.

Bloomberg’s report talked to billionaires belonging to the Tiger 21 club.

US billionaires defend themselves against vagueness of choice with Bitcoin and Gold

It is not only the crisis of the new coronavirus that shook the US economy in 2020. With the choice of the next president in the spotlight, many have preferred to be cautious with investments.

According to an important member of the Tiger 21 club in Miami, the moment is one of uncertainty. In a conversation with Bloomberg, Avi Weintraub, who is head of The Weintraub Companies, a possible Democratic victory would lead to more taxes in the US.

In addition, the effects of the OVID-19 pandemic are still felt by investors. So Avi said it was important to have Bitcoin and gold in the investment portfolio to hedge at the moment.

The asset protection strategy is important to any investor and is part of risk management. To invest in gold, billionaires did not buy the physical mineral or exchange traded funds. However, the billionaires have bought ETFs and shares in a gold mining company.

As for Bitcoin, Weintraub said it may be insane to have Bitcoin in the portfolio. Known as a volatile asset, some still distrust Bitcoin’s capacity as a value reserve. However, the billionaire member of Tiger 21 in Miami said that Bitcoin is like an insurance policy, so it is interesting to have some.

Billionaires also buy silver in the market for protection

Billionaires have also looked at their investments for a mineral other than gold. Silver has been another of the escape valves of the traditional billionaires.

For one of the members of Nashville’s Tiger 21, silver is one of the best assets for safety today. In other words, this is yet another way that US billionaires have found to reserve value in addition to Bitcoin and Gold.

Other Tiger 21 billionaire members have been targeting investments in companies that create value in the pandemic. Businesses linked to online therapy, home delivery, among others, shine through the eyes of some of these billionaires.

Others sell real estate to hold money in their hands, believing in a possible retreat from the real estate market. By holding money in their hands, these big investors are waiting for opportunities to buy cheaper real estate.

The Tiger 21 Club is famous among US billionaires, who usually gather magnates at events. Investors get together to exchange investment experiences at events and try to increase their assets.

However, they all fear that a Joe Biden victory will increase taxes for them. As a result, most billionaires are seeking refuge from such a scenario.

At the time of writing, Joe Biden had 264 votes, leaving only 6 to be elected, while Donald Trump had 214. It takes 270 votes to be president in the USA.