While Bitcoin is soaring, bank stocks are languishing. Goldman Sachs’ share price is down 4% since mid-July. Credit Suisse’s is down around 10%. Morgan Stanley’s is up 3%. If you’re not paid cash, Bitcoin looks like a good alternative.
There are a few disadvantages, obviously – not least the fact that Bitcoin has been called a bubble and the price fell 74% between April and July. “No one normal is into Bitcoin,” according to one hedge fund manager. Twitter pundit @Finansakrobat offers the following reasons why Bitcoin bonuses would be bad (read from the bottom up):
On the other hand, supporters argue that Bitcoin isn’t a bubble and that it offers an alternative to official currencies which are being quantitatively eased into oblivion.
Would you like your deferred bonus paid in Bitcoin?