The only global currency to crush dollar this year

“Ultimately, my grocer, my landlord, my favorite bar will not accept bitcoins. The places that do are the limited exceptions, quaint marketing gimmicks, like a NY shop accepting euros when the dollar was weak,” he said. Barry Silbert, founder and CEO of the Digital Currency Group, didn\’t disagree. “I am the first to admit that as a currency, bitcoin has a long way to go and is high risk, highly volatile,” said Silbert, who created the Bitcoin Investment Trust (GBTC). “Until the monetary base is significantly larger than the $ 7 billion it is today, it can\’t function as a global currency for cross-border payments and money transfers,” Silbert said. But with the longer-term case for bitcoin needing more time to play out, Silbert maintains what he called a “very unpopular position” for bitcoin as an investment today: “The killer app for bitcoin is speculation,” Silbert said. Originally appeared at: http://www.cnbc.com/2015/12/28/only-one-global-currency-trounced-the-dollar-this-year.html

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