Mohamed El-Erian, chief economic advisor at financial services company Allianz, says that bitcoin is not going to be a global currency and will not replace the U.S. dollar. However, he believes the cryptocurrency will always exist in the ecosystem and will not be regulated out of existence.
Bitcoin Won’t Become Global Currency Rivalling US Dollar, Says Economist El-Erian
Famed economist Mohamed El-Erian talked about the future outlook for cryptocurrencies, particularly bitcoin, in an interview with CNBC Monday.
El-Erian is the chief economic advisor at Allianz, the corporate parent of PIMCO, one of the largest investment managers, where he was CEO and co-chief investment officer. The Egyptian-American businessman is also president of Queens College, Cambridge University.
While El-Erian believes that bitcoin is a “very disruptive force,” he does not think it will ever become a “global currency” that rivals the U.S. dollar. He said:
I think it will always exist in the ecosystem
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