Bill Gross recently shared his thoughts about bitcoin and blockchain. As Portfolio Manager of the Janus Global Unconstrained Bond strategy, Gross is responsible for US$1.54 billion in assets.

Gross has had a long and successful career in financial markets. He co-founded Pacific Investment Management (PIMCO) in 1971 and went on to run what would become the world's largest bond fund, PIMCO's Total Return Fund, which had US$270 billion in assets. He left the position to join Janus in September 2014.

The finance titan has received numerous achievement awards such as Morningstar Fixed Income Manager of the Decade for 2000-2009 and Fixed-Income Manager of the Year for 1998, 2000 and 2007. He was also the first portfolio manager inducted into the Fixed Income Analysts Society's Hall of Fame. Institutional Investor magazine awarded him the Money Management Lifetime Achievement Award in 2011. In addition, he authored two popular books on investing.

"Central bankers have fostered a casino like atmosphere where savers/investors are presented with a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination. Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound. This cannot end well."

- Bill Gross, Janus Portfolio Manager

In his Monthly Investment Outlook published on Tuesday, Gross states, "Our financial markets have become a Vegas/Macau/Monte Carlo casino." While central banks keep printing money to reflate global economies, low yields erode and destroy historical business models that foster savings and investment, and ultimately economic growth.

"The continuation of current monetary policies will lead to capital destruction as opposed to capital creation," Gross explained. While Banks, insurance companies, and pension funds have been negatively affected, Gross told Bloomberg that mom and pop on mainstreet will ultimately turn to alternative investments, "When they get to the point where they take the money out of the bank and put it in the mattress."