Express
Bitcoin Is A "Laughable" Alternative Payment Method, Says J.C. Flowers Founder
Summary: Chris Flowers, the founder of J.C. Flowers, the world's largest private equity investment institution focused on the financial sector, told Bloomberg that Bitcoin is too slow and costly, making it "laughable" as a serious alternative payment method. Flowers also criticized the claim that cryptocurrencies can hedge against inflation, pointing out that Bitcoin is actually zero-related ...
Chris Flowers, the founder of J.C. Flowers, the world's largest private equity investment institution focused on the financial sector, told Bloomberg that Bitcoin is too slow and costly, making it "laughable" as a serious alternative payment method.
Flowers also criticized the claim that cryptocurrencies can hedge against inflation, pointing out that Bitcoin is actually zero-related to gold, and that inflation is not the biggest concern of digital asset investors.
However, gold and silver also rose on the same day that BTC reached a record high of nearly $70k. According to Bitpush Terminal, as of press time, Bitcoin has fallen back to around $63,900.
By Mary Liu
Tags: Bitcoin,Chris Flowers,J.C. Flowers
Link: Bitcoin Is A "Laughable" Alternative Payment Method, Says J.C. Flowers Founder [Copy]
