During the Bretton Woods: The Realignment conference, Dan Tapiero, the founder and CEO of 10T Holdings, shared his macro-view on where the economy ecosystem is headed, how asset classes are changing and how bitcoin will become a core asset in the future.
“Bonds as an asset class — which is something portfolio managers have relied upon for the past 30-40 years — is gone; it’s changing,” he said.
While very few people have acknowledged that in the traditional world, society is at a point now if there’s a slow down, the bond part of one’s portfolio will not be able to compensate for losses and no gains in someone’s equity portfolio, he said. “That’s the great macro dilemma money managers face today. What do I use as a hedge for my equity?”
While gold can replace bonds in a portfolio and act as a hedge to the equity part of one’s portfolio, Tapiero said he’s coming at the idea from a practical money-making perspective.
People should also understand that bitcoin is one of the first truly global macro investments to exist, he said. “Maybe you can argue gold wise, but there’s never been any financial asset that’s been so decentralized across so many different countries in the world,” he said.
Watch my full interview with Tapiero below.