Sunday, December 8, 2013

Bitcoin: Maybe it will be Money in the Future

I don`t know with any degree of certainty what gold is going to be worth next year. I can`t know that, but I do believe it will be valuable. I don`t believe it will be worthless. But with Bitcoin, the unknowns are so great, that it can`t be money right now, you can only view it as a speculative asset. Maybe it will be money in the future. Right now it is a highly speculative asset.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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