Covesting
Contributor
Joe Davis, Chief Economist for Vanguard, one of the world’s largest asset managers overseeing a combined $5.1 trillion in assets, believes that cryptocurrency has little to no use cases, are incredibly risky, and that there is a “decent probability” bitcoin’s value may plummet to zero eventually.
Despite the harsh words for bitcoin and like cryptocurrencies, Davis and Vanguard remain “enthusiastic” over blockchain technology. Davis made the following statement in an ETF industry perspective analysis titled ‘Vanguard: Bitcoin Presents A Quandary’:
“I’m enthusiastic about the blockchain technology that makes bitcoin possible. In fact, Vanguard is using such technology. As for bitcoin the currency? I see a decent probability that its price goes to zero.”
Full article is here.
Despite the harsh words for bitcoin and like cryptocurrencies, Davis and Vanguard remain “enthusiastic” over blockchain technology. Davis made the following statement in an ETF industry perspective analysis titled ‘Vanguard: Bitcoin Presents A Quandary’:
“I’m enthusiastic about the blockchain technology that makes bitcoin possible. In fact, Vanguard is using such technology. As for bitcoin the currency? I see a decent probability that its price goes to zero.”
Full article is here.