What You Don’t Know about Crypto

Fergus Hodgson, February 5, 2018

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Is bitcoin the new gold? Chris Blasi responds with an emphatic no, and he takes contention with the term cryptocurrency: “Bitcoin is operating as a speculative investment, not a currency.”

A 30-year veteran of the financial industry, with a particular focus on precious metals, he shares his concerns regarding the interest in cryptocurrencies. Although he does not want to rule them out as viable technologies, his strong contention is that they are distinct from precious metals and should be treated as such.

In his role as CEO of Neptune Global, Blasi advocates for physical possession or secured third-party vaults. His notable contribution to the industry is the PMC Ounce, a backed composite of the four major precious metals: gold, silver, platinum, and palladium.

Chris Blasi spoke at the latest edition of the New Orleans Investment Conference and addressed head on the enormous interest in cryptocurrencies. (NOIC)

Recommended Links

• Episode 22: Demystifying the Blockchain, Avoiding Digital Snake Oil.
• “Adding ‘Blockchain’ to Name Causes Soaring Valuation, Reminiscent of Dot-Com Bubble” by Jacob J in Coin Telegraph.
• Blockchain definition by Investopedia.

Fergus Hodgson is Gold Newsletter’s roving editor. Follow him on Twitter and Facebook.