“Bitcoin Cannot Be Considered a Currency” Says El-Erian

posted on

< 1 min

“Bitcoin cannot be considered a currency”, said Mohamed El-Erian, a top financial commentator and institutional investor. “…currencies normally serve as a store of value, but they must be predictable and stable to work as a medium of exchange.”
El-Erian, currently the chief economic advisor at Allianz stated:

“Bitcoins aren’t there yet, they’re still trying to find stability so it’s more of a commodity than it’s a currency.”

Early in September, he had already said he thought “Bitcoin was overvalued…”. At the time, he said his main concern was if “the assumption in the pricing about adoption [was] consistent with reality”. “This is the question investors should ask themselves if they are holding bitcoins for a couple months”, told El-Erian to CNBC.
Mohamed El-Erian, an Egyptian American businessman, is the chief economic adviser at Allianz. He also served as chair of President Obama’s Global Development Council and is a columnist for Bloomberg View, and a contributing editor to the Financial Times.
[cta_en link=”http://bit.ly/2uF1uYS” name=”Trade now”][/cta_en]

What should you learn next? Turn the wheel to find out!

Use the Platform to the Fullest: How to Customize It According to Your Strategy

What should you learn next? Turn the wheel to find out!

Vlog: IQ Option Financial News Digest

general risk warning

CFDs are complex instruments and entail a high risk of losing money rapidly due to leverage.

74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

NOTE: This article is not an investment advice. Any references to historical price movements or levels are informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future. Information regarding past performance is not a reliable indicator of future performance. Forecasts are not a reliable indicator of future performance. In accordance with European Securities and Markets Authority's (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.

share

you may also like