Bitcoin is overpriced and will not see widespread use , : Ex Pimco CEO

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Mohamed El-Erian the Ex ceo at pimco and the current chief economic adviser at Allianz in a discussion with CNBC , stated that..

bitcoin is a disruptive technology but will not see widespread use.

Mohamed said that he thinks that the price is going to blow up because it cant be adopted at the current price it is at ,but can be used as a peer to peer currency since there are many more peer to peer currencies.
He thinks the price is overpriced and will eventually blow up but will not be allowed by the government at the current massive adoption that the price is taking it to be.
He said….

the current pricing assumes massive adoption and i do not think that the government will allow it.

When asked the price at which he finds it good for bitcoin to be priced at ,Mohamed said that at least half of the price that it is today should be considerable because of its peer to peer payment process strategies.
This comes after the harsh comment from  Jamie Dimon of jp morgan where he tagged bitcoin as a fraudulent scheme and threatened to sack any of its employees who had anything to do with the cryptocurrency, you can read about that => here
What do you think of the statement of Mohamed El-erian , does bitcoin have no widespread use ?  and is it overpriced ? : ) let us know in the comment section below.
 


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.