Bitcoin, although it is presented as a technological breakthrough in monetary policy, is just speculation with securities. This statement was made in an interview with the Institute for New Economic Thinking by the teacher of the history of financial fraud at Yale University Jim Chanos.
Jim Chanos is also known as an analyst who once predicted the collapse of the US energy company Enron.
According to Chanos, bitcoin cannot be an effective means of payment, and in the event of a financial crisis, will cope with its functions significantly worse than other assets.
“The last thing I want to possess if the system collapses is bitcoin,” the expert said.
Jim Chanos also added that the cryptocurrency attracted scammers, laundering money, evading taxes and other financial crimes, and hoped for tough regulation of the industry by the governments of large countries.
Recall, in March CEO Ripple Brad Garlinghouse called for cooperation with the regulators.