The CEO of the Monex Group, a major Japanese securities company has advised investors to buy bitcoin (BTC), gold and American stocks.
In a blog post, Monex chief Oki Matsumoto stated that first-time investors would be advised to stay away from conventional liquid assets in favor of crypto and precious metals.
Matsumoto opined that central banks are already printing more money than during the 2008 financial crisis in response to the financial fallout of the coronavirus pandemic, a factor that he states will inevitably lead to inflation.
This, says the Monex boss, will likely lead to a decline in the credibility of fiat currencies such as the United States dollar and yen, leading investors to start buying gold, and “digital gold,” i.e. bitcoin.
Price rises, says Matsumoto, could also play a part. Large-scale quantitative easing (a monetary policy that involves central banks buying government bonds to inject money into the economy and boost economic activity) could drive prices up, leading to a decrease in the value of fiat currency savings.
As such, precious metals like gold and platinum, which are both rare and finite in supply, will experience a rise in demand. And bitcoin, which also has a firm issuance and supply limit, has all the asset characteristics of digital gold – a reason why investors will continue to flock to it.
However, Matsumoto thinks there is still a role for stock market investments. He states that the gold and bitcoin markets are “too small” to handle the needs of mainstream global investors on their own, and advised first-time investors to consider buying American stocks.
And he opined that the Federal Reserve (America’s central bank), was likely to make liquidity moves that would lead to a rise in United States stock prices.
Monex has become a major player in the Japanese cryptoasset scene since it moved into the sphere in 2017. It operates the Coincheck exchange in Japan, as well as the TradeStation online stock, crypto and equities trading platform in the United States. It is also one of the main investors in the ErisX trade platform.
The company has also previously told Our that bitcoin is “the most popular cryptocurrency” among its shareholders – a factor that led it to offer its 50,000 shareholders a bitcoin end-of-financial-year benefit payout in March.
Watch Oki Matsumoto discussing the future of digital currencies