He warned that bitcoin has no “economic fundamentals” to back up its soaring value. To be successful, he said, money must be both a medium of exchange and a reasonably stable store of value. Bitcoin appears not to be a stable store of value, he said. He said investors searching for high yield in time of high market liquidity and low deposit rates might overlook the riskiest assets class. Bitcoin’s proponents argue, however, that blockchain technology and the ability to bypass central banks make bitcoin transactions more efficient.

Source: The Nation Bangkok November 29, 2017 08:11 UTC