Allianz Economist Unveils What Will Trigger Bitcoin’s Rise

Mohamed A. El-Erian, chief economic advisor of wealth manager Allianz, has suggested what changes in Fed policy will lead to a rise in the price of Bitcoin.

According to him, the US Federal Reserve (Fed) could change the annual inflation target from 2% to 3%. He believes it is unlikely that the initial figure will be reached, and failure to do so will undermine the credibility of monetary policy.

The economist believes that in the event of such a decision by the regulator, gold and cryptocurrency prices will rise.

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Successful entrepreneur and author of Rich Dad, Poor Dad, Robert Kiyosaki, has reiterated his call to invest in Bitcoins and precious metals as “insurance against the idiots who rule the world.”

Last April 18, the price of the crypto updated its local low since mid-March to levels below $39,000.

In this context, cryptocurrency critic and gold advocate Peter Schiff has pointed out that Bitcoin correlates with tech stocks, not safe haven assets.