Cryptocurrencies are incredibly volatile and very speculative, warned Wheaton Precious Metals CEO Randy Smallwood who spoke to Kitco on Friday.

The company's Q1 was released on Thursday. Wheaton's revenue was $324 million in the first quarter of 2021, representing a 27% increase from the first quarter of 2020 due primarily to an equivalent increase in the average realized gold price.

Smallwood is also chair of the World Gold Council, which aims to stimulate and sustain demand for gold.

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