Is It The End Of Bitcoin's Glory Days?

Feb 06, 2018
Guest(s): Frank Holmes CEO, U.S. Global Investors

Bitcoin has fallen more than 60% since its December highs, but one prominent investor thinks that this is not a sign of the “bubble” bursting, and the largest digital currency still has more room to grow. “Bitcoin is a unique animal,” Frank Holmes, CEO of U.S. Global Investors, told Kitco News on the sidelines of the Vancouver Resource Investment Conference, “It’s capped at 21 million coins, there’s about 10 million out,” he said. Aside from bitcoin, Holmes said he also likes Ethereum and Ethereum Classic, and dismisses worries around government regulation circling cryptocurrencies as well as an excessive need for energy when mining. “It’s all greatly exaggerated, except for the regulators coming down – that’s not exaggerated,” Holmes said, “and they have to be, because there are bad people trying to use the crypto model to steal money.” (show less)

Bitcoin has fallen more than 60% since its December highs, but one prominent investor thinks that this is not a sign of the “bubble” bursting, and the largest digital currency still has more room to grow. “Bitcoin is a unique animal,” Frank Holmes, CEO of U.S. Global Investors, told Kitco News on the sidelines of the Vancouver Resource Investment Conference, “It’s capped at 21 million coins, there’s about 10 million out,” he said. Aside from bitcoin, Holmes said he ... (read more)

Daniela Cambone

Daniela Cambone

Editor-in-Chief

Biography
With over a decade of international experience, Daniela Cambone covers prominent industry events and interviews a number of leading analysts, financiers and political leaders for Kitco News. She began her career covering the Canadian financial and insurance industry and later worked in Europe covering the political and financial scene for the International television station, Press TV. Daniela holds a BA in Broadcast Journalism and an MA in Journalism & Communications.

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