Gold is 'special', Bitcoin is just a 'fraud' - Peter Berezin (Pt. 2/2)

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.” (show less)

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 ... (read more)

Market Analysis

Market Analysis
The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.