“At the start of December, the US senate more or less passed President Trump’s tax reform, which was already approved by the House of Representatives. The two houses still need to agree on the finer details but these can be seen as minor issues. To all intents and purposes, we now know the main contents of the tax reform.”
So writes Chief Strategist at Sparinvest, David Bakkegaard Karsbøl, in his latest monthly comment. Here he points also out the effects of the tax reform for both American economy and the ripple effect the lower corporation taxes can have on the European taxes.
Bitcoin continues up
The monthly comment also covers Bitcoin, that generate more and more headlines, as the electronic crypto currency often goes up by several percentages on a daily basis.
Sparinvest Chief Strategist predicts that the technology behind Bitcoin will become widely used in the financial sector.
“If our current monetary system, which is dominated by currencies like USD, EUR and JPY, are to be replaced by one or more cryptocurrencies, Bitcoin values can multiply – even from current levels. The fact that banks and other players on the financial markets allocate so many resources to integrate – or even simply understand – cryptocurrencies is testimony to the fact that the blockchain technology that lies behind Bitcoins will become integrated into the financial infrastructure in the foreseeable future.”
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