Andrew Sorell said that a well-balanced government budget should be differentiated and include investments in different classes of financial assets. The expert believes that with inflation around 3%, investments in government treasury bonds do not bring an acceptable income to the state government, while crypto assets show the greatest potential for growth in the income component of about 55% per annum.
Sorell proposed that the Alabama administration create its own strategic reserve in bitcoins, modeled on the federal reserve previously announced by Donald Trump.
“Alabama needs to position itself as a cryptocurrency-friendly state. I believe states that are early adopters of new technologies and cryptocurrency-friendly tax and regulatory frameworks will attract business and investment. The controversy will go away, but the cryptocurrency will remain. Now the fight has begun over which states will benefit from this,” Sorell said.
Earlier, the founder of the management company Bridgewater Associates, Ray Dalio, called on investors to switch their attention from traditional debt instruments to gold and Bitcoin.
Source: Bits
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