Stansberry Research Just Went Bullish on Cryptocurrency
Buying cryptocurrency today is the best leverage you have against the looming financial crisis. At least, this is according to the controversial financial advisory group, Stansberry Research.
In November 2019, Stansberry Research began going bullish on cryptocurrency. This bullishness is now being popularized further with a new Bitcoin and Blockchain Quick-Start Guide. Here, we’ll look at what you need to know.
Who is Stansberry Research?
Stansberry Research operates out of Baltimore. As a private American publishing company, the group claims to make available “actionable investment recommendations” for individuals who manage their investment portfolios themselves. However, these recommendations aren’t free.
To benefit from Stansberry Research recommendations, it is necessary to pay for premium access to Stansberry tools and publications.
Is Stansberry Research Legit?
Like most financial advisory groups that require subscription access, Stansberry Research is no stranger to controversy.
- In 2003, the U.S. Securities and Exchange Commission (SEC) was successful in suing Frank Porter Stansberry for distributing false stock information.
- Since 2003, the independent financial advisory group has come under fire for using aggressive marketing tactics to secure new subscribers.
- As well as accusations of aggressive marketing, many accuse owner Frank Porter Stansberry of peddling economic doom and gloom.
At first glance, all of the above charges might seem damning. However, crypto investors may want to take notice of Stansberry now going bullish on crypto.
Like it or Not, Frank Porter Stansberry was Right All Along
For almost two decades, Frank Porter Stansberry has been warning that the trajectory of the U.S. economy is unsustainable. As it stands, predictions of economic doom have never manifest exactly on schedule. However, they have come to pass eventually.
- Frank Porter Stansberry was warning of the 2008 financial crisis 5-years in advance of it occurring.
- Since 2008, Stansberry investment advisory bulletins have been warning that another crisis is inevitable.
- As of March 2020, the Coronavirus crisis seems to be proving that Frank Porter Stansberry has been correct all along.
Many, of course, will argue, that it was impossible to predict something like the current Coronavirus pandemic. However, the Coronavirus crisis is proving that many major U.S. firms don’t have the ability to survive even 30-days during a crisis. At least, not without Federal assistance.
Why is Frank Porter Stansberry Bullish on Cryptocurrency?
Frank Porter Stansberry hasn’t always been bullish on Bitcoin. In 2014, a Stansberry YouTube video predicted that Bitcoin was due for a major pullback.
At the time, Bitcoin was riding high on a tide of 5,000%+ gains. However, after the Stansberry prediction, the Bitcoin price did start pulling back, ending 2014 almost 50% down on prices set earlier in January.
Some will argue that predicting this pullback, on top of the crashing of the U.S. economy, gives Stansberry Research more than a little credibility. Here, then, are some predictions made by the group for crypto in 2020 & 2021:
- In late 2019, a Stansberry blog post made an argument for a major increase in mainstream adoption of cryptocurrency by 2021.
- As well as being bullish on Bitcoin, Frank Porter Stansberry believes that Facebook’s Libra will eventually make a major impact on the cryptocurrency market.
- Stansberry has previously been bullish on altcoins 89% below former all-time highs, as well as privacy coins like Monero.
Is Cryptocurrency a Good Hedge Against the Current Financial Crisis?
Is the U.S. economy heading for disaster? If so, will coins like Bitcoin prove to be an effective safe-haven?
As a rule, it is impossible to predict how the cryptocurrency market will continue to react to the current Coronavirus crisis. However, what is certain, is that few real investment safe-havens exist anymore. Out of those that do, many argue that cryptocurrencies have the strongest potential. All that investors need to remember, is that investing is never without risk.