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.
Read More =>
https://zycrypto.com/bitcoin-will-not-see-widespread-use/This has to be the most baseless rubbish ever spoken against Bitcoin and it is coming at a time where the market is muddled.
Firstly, Bitcoin is experiencing a very widespread usage from anything to everything. Not sure if he even realizes that over millions of dollars are traded in BTC on an everyday basis and this is all in their own pertaining fields of usage.
Secondly, Bitcoin has been adopted since its price was $0.1 and we all know the infamous 10,000 BTC pizzas. Today the price is over $3500 right now and if the average person can't get 1 BTC, he can trade in mBTC which is around $3.5 now so I don't see a problem there.
Lastly, Bitcoin was the first peer to peer currency to ever exist and people will obviously prefer the first one over the following. Its their own will to use BTC or any other token but BTC has been like the standard currency of the crypto market from the beginning.
With all this said, I have a piece of advise for him - "Never go full retard."