Research Company Chief Strategist: BTC is Not New Gold, Just a Scam

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Peter Berezin, chief strategist at research firm BCA Research, has said in an interview with Kitco News that Bitcoin is a scam.

According to him, the cryptocurrency created by anonymous Satoshi Nakamoto is not the future of legitimate investments. Instead, it is just a tool mainly used for bad actors to carry out illegal activities:

“If you look at how much Bitcoin is used for legal business purposes, the answer is very, very little. In fact, some data shows that there are fewer transactions for legitimate purchases now than three years ago.”

He has even said that Bitcoin cannot be considered as a store of value like gold, because gold has proven to have special qualities over time, for example, its use in jewelry and industry, however, Bitcoin cannot be used for anything like that.

He has also said that he believes the cryptocurrency will eventually disappear once regulators from all over the world implement homogeneous rules.