Mohamed El-Erian: Bitcoin will Create Payment Efficiencies in Next 5 Years

PIMCO’s Mohamed El-Erian talked Bitcoin today with the Bloomberg crew.  When asked about the currency he said:

1. Because it’s volatility it’s not a global reserve currency
2. It is a commodity
3. 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.