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Is It The End Of Bitcoin's Glory Days?
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
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.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.
