Still considered a niche product, Bitcoin, is so far, the most powerful digital monetary currency that has ever been developed by hackers and cyber punks, but a recent Inquisitor report asked Brad Reifler of Forefront Capital for his expert assessment, and Reifler believes Bitcoin has outlived its moment. Still, Bitcoin has crucial and groundbreaking benefits for individuals.
Bitcoin has become the most successful attempt to create its own money and value transfer system that is tamper-proof, stable in value, and purely digital. The coin is decentralized and independent of any central bank, and immune to the international financial system, therefore the value of the coin isn’t guaranteed. So for the little guy that’s looking for an investment, Reifler says from Twitter it’s too much of a risk. “Virtual currencies are not regulated. Moreover, there is no legal framework to protect consumers buying goods or services through virtual currencies,” says Reifler. Even with all the popularity, the overall understanding of Bitcoin trading and buying is a bit daunting.
Undoubtedly, this makes the currency a very beneficial strategy for those un-trusting of the traditional banking system. The coin is not controlled by any institution, thus it’s not possible for user accounts to become frozen, so the absence of support from a financial institution appears to be an advantage. However, Brad Reifler points out those appearances can be deceiving. Brad Reifler heavily criticizes the opacity of Bitcoin’s monetary transfer system. “It’s un-banked, is void of any monetary authority, and while leaving no trace, it can likely to be used for money laundering and terrorist financing,” and “that is a huge risk for investors to take,” says Reifler.
Breathing New Life Into Investment Banking
Brad Reifler rapidly made his mark with Reifler Trading in 1982, but his most notable success was founding Pali Capital and making a substantial expansion of the company’s annual revenue to the more than $200 million. The company’s impressive growth can be attributed to Reifler’s reputation for growth and innovation, and his enormously popular style resulted in global offices in the US, Singapore and Austria, to name a few.
Bloomberg shows how Reifler has masterminded a raft of ventures and partnerships and today is CEO of Forefront Capital, a leading investment banking firm. With Forefront Capital, Brad Reifler has nailed firmly into place the central tenet of his vision: that the company should do what it does best – helping the “other 99 percent” to build a solid retirement.