The Netherlands, Fidelity discussed on The Michael Knowles Show

Automatic TRANSCRIPT

That does clarify some things but it raises about a million more questions for me as a lot on now. So i'm glad to hear you say that it's not really a currency or it's not just a currency or it's not primarily a currency because that's been one of my issues with bitcoin from the very beginning as i thought. I don't really think this is going to behave like a currency. I don't think people are investing in it as though it is a currency. I think they're looking at it. More as a speculative asset they see it as a thing that they want to put their money into it because they think the number is going to go up and then they're going to have more money so then the question becomes. Is this just the tool at bubble in the netherlands. Is this just a bunch of people who were pouring their money into something because the number keeps going up but if there's no real value underneath it and if there's no sort of long standing human interaction with this thing that can give you confidence that it's going to have value. Is it just gonna collapse one day. Well you know. I gotta say this. Eventually it will collapse one day. I mean i don't think it'll be the world currency for the rest of human civilization You know there will be a new technology that comes around one day but in the short term over the next fifty to sixty years. I would say there's very little chance of that. The fifty five out of the top one hundred banks in the world more than half have exposure heavy exposure to crypto it. We're seeing more added by the day. Fidelity recently. just jumped into crypto in a big way. They've already been doing crypto custodianship for awhile it. You're seeing more and more banks and.

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