Cryptocurrencies could become an alternative to gold but it is unlikely they will turn into 'money as we know it,' Piyush Gupta claimed.
Cryptocurrencies could become an alternative to gold but it is unlikely they will turn into “money as we know it,” Piyush Gupta claimed.
However, he pointed out the current volatility of the crypto market, which will not enable the digital asset to become “money as we know it:” Additionally, Gupta called upon global regulation of the industry as global central banks should be responsible for designing the regulatory framework. “It can change how trade finance is processed, it can change how payments and settlements clearances work, it can change how exchanges work.”Earlier this week, Bobby Zagotta – Chief Executive Officer of Bitstamp USA – displayed his thoughts on the correlation between the primary cryptocurrency and the precious metal. Hethat investors could soon treat both assets similarly, assuming the world of crypto becomes a “more of a mainstream investment.
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