Claure stepped down as Softbank’s CEO at the end of January.
Bitcoin has been down 1.25% in the last 24 hours.
Marcelo Claure, a former CEO of Tokyo-based Softbank, has revealed that he currently allocates 10% of his assets to Bitcoin (BTC). According to Claure Capital’s CEO, he decided because of his concern about an impending recession. Claure presently serves as the Vice-Chairman of TelevisaUnivision’s Board of Directors and as a director of T-Mobile and the Chairman of Claure Capital after his departure from Softbank.
Fear of an Impending Recession
The president of Bolivar’s biggest professional soccer club, Club Bolivar, and a co-owner of the Spanish soccer team Girona FC round out Claure’s list of accomplishments. In a panel discussion at the Bitcoin 2022 Conference, Claure argues that government monetary policies are to blame for global inflation.
Claure also explains why he increased his BTC holdings by up to 80% to 90%. He claims he did it out of fear of an impending recession. Claure says that the capital allocators constantly informed them that the “safe thing” was to “keep everything at 2%.”
As a result, they concluded that Bitcoin was one of the safest methods to save their money. Bitcoin, according to Claure, is possibly the only investment where the chance of gain exceeds the “potential of an asymmetry,” at least in the short term. He stepped down as Softbank’s CEO at the end of January.
On Monday, Bitcoin (BTC) continued its downward trend, dropping even farther into a trading range that it has maintained for most of the year. A hawkish Federal Reserve and rising inflation are expected to put further pressure on the token in the coming months. According to CoinMarketCap, the Bitcoin price today is $42,175.11 USD with a 24-hour trading volume of $21,806,196,845 USD. Bitcoin has been down 1.25% in the last 24 hours.