Highly Recommended Viewing: Bitcoin is a ‘fraud’, legitimate usage has declined from 3 years ago says economist
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Watch part 1 of this interview on economic growth: https://youtu.be/oVyJ8_nBSD8
The non-illegal use cases of Bitcoin have not grown, in fact, they have declined in recent years, said Peter Berezin, chief global strategist at BCA Research.
Berezin told David Lin, anchor for Kitco News that Bitcoin is more likely to be a “fraud” than the future of legitimate investment.
“If you look at transactions involving Bitcoin, to this day, the majority continue to finance all sorts of illicit activities,” Berezin said. “But if you look at how much Bitcoin is used for legitimate business purposes, the answer is very, very little. In fact, some of the data that I showed during this debate with my colleague reveal that fewer transactions for legitimate business purchases are being made now than three years ago.”
0:00 - Bitcoin's use case
5:35 - Bitcoin vs. gold
7:10 - Meme stocks
11:26 - Gold as investment
Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV )
Follow BCA Research on Twitter: @bcaresearch (https://twitter.com/bcaresearch)
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The non-illegal use cases of Bitcoin have not grown, in fact, they have declined in recent years, said Peter Berezin, chief global strategist at BCA Research.
Berezin told David Lin, anchor for Kitco News that Bitcoin is more likely to be a “fraud” than the future of legitimate investment.
“If you look at transactions involving Bitcoin, to this day, the majority continue to finance all sorts of illicit activities,” Berezin said. “But if you look at how much Bitcoin is used for legitimate business purposes, the answer is very, very little. In fact, some of the data that I showed during this debate with my colleague reveal that fewer transactions for legitimate business purchases are being made now than three years ago.”
0:00 - Bitcoin's use case
5:35 - Bitcoin vs. gold
7:10 - Meme stocks
11:26 - Gold as investment
Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV )
Follow BCA Research on Twitter: @bcaresearch (https://twitter.com/bcaresearch)
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?r...
Twitter - https://twitter.com/kitconewsnow
StockTwits - https://stocktwits.com/kitconews
Live gold price and charts: http://www.kitco.com/gold-price-today...
Live silver price and charts: http://www.kitco.com/silver-price-tod...
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscriptio...
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.