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A professor of finance and business economics at the University of Southern California says that asset managers focusing on growth strategy could violate their fiduciary duty if they do not consider bitcoin in their portfolios.

Asset Managers With Growth Focus Need to Consider Bitcoin

Financial researcher Nik Bhatia said last week that asset managers seeking growth returns on behalf of their clients need to consider bitcoin, the Insider reported.

Bhatia is also an adjunct professor of finance and business economics at the University of Southern California Marshall School of Business. In addition, he is the author of the book “Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies.â€

He explained:

“If you’re ignoring bitcoin now as a growth manager, you are ignoring that an alternative monetary reality has come into existence on this planet,†the professor said, clarifying that he is not referring to fixed-income managers whose mandates are capital preservation and income.

Bhatia believes that asset managers should at least do their own analysis of whether bitcoin or other cryptocurrencies are right for their clients. After studying the pros and cons of cryptocurrencies, they can decide whether to invest. However, he said that is not what he has been seeing, emphasizing that asset managers seem to cite old narratives, advocating avoidance of bitcoin and cryptocurrencies. He further noted that those who make excuses that bitcoin is a bubble have not done their research.

Turning attention to the U.S. dollar, Bhatia said the USD is losing its status as the global reserve currency, noting that with inflation kicking in, assets like land are being considered almost superior reserve assets to the dollar.

The researcher further said bitcoin is here to stay, not only as a store of value, but it may become “the anchor for the global monetary system in the future, replacing the US dollar,†the publication conveyed. He also believes that “bitcoin’s protocol for monetary settlement will become the system on which other systems are built.â€

“I worked in the bond industry for several years, and I worked in both operations and trading capacities. I was involved in emailing and faxing dollars through the wire process, and Fed wire, and repo settlement, and US Treasury securities settlements through DTC,†Bhatia shared with the publication, elaborating:

Do you agree with Bhatia? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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