Over the past few months, bitcoin’s value has grown significantly and many believe the growth is due to the geopolitical risks taking place within the global economy. According to a well-known executive wealth advisor bitcoin is more than just an investment vehicle because it has the beneficial attributes that could give society an alternative financial system.

Executive Wealth Manager Tells CNBC: ‘Maybe the World Needs an Alternative’

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just recently the executive director of Taurus Wealth Advisors, Rainer Michael Preiss, told CNBC’s “Capital Connection” that bitcoin could aid the global economy that is seemingly getting worse every day with debt burden. According to Preiss, the financial system worldwide is based on debt which has led to quantitative easing and “too much debt and too little growth.” Preiss details that he believes bitcoin has significant potential that could progress the fourth industrial revoulution .

“Governments are potentially having long-term issues with debt repayment, and the world is suffering so much debt. Maybe the world needs an alternative — in the sense that bitcoin is an asset-backed currency with limited supply,” explains Preiss during the CNBC broadcast.