PIMCO’s Mohamed
El-Erian talked Bitcoin today with the Bloomberg crew. When asked about the currency he said:
- Because it’s volatility it’s not a global reserve currency
- It is a commodity
- It will not only exist in 5 years, but it will be a payment form creating transactional efficiencies
It’s worth
noting that as El-Erian works for PIMCO he makes his money off of a robust an efficient
treasury business so he may be incented to downplay treats to his companies
bread and butter but non the less some very interesting perspective from one of
the country’s most influential financiers.