Bert Dohmen of Dohmen Capital Research said he would never invest in bitcoin or any other cryptocurrency as they will all be taken off the market by governments.
Speaking to CNBC, Mr Dohmen said: “I would not invest into bitcoin even with my worst enemy’s money.
He added “people are going to be very surprised” because governments will not allow the cryptocurrency to have a future.
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Cryptocurrencies will be replaced by governmental digital currencies, says expert
He said: “That’s competition and government never likes competition.
“Bitcoin and all these cryptocurrencies are going to go out of existence eventually and they will probably be replaced with sort of digital currencies which are going to be issued by central banks.
“That’s what this all think is all about. It’s basically to get people accustomed to digital currency and then, later on, switch the rule from the private bitcoin to a governmental digital currency.”
I would not invest into bitcoin even with my worst enemy’s money
Bert Dohmen
Mr Dohmen is not the first to predict cryptocurrency will be banned by governments.
Mike Bell, global market strategist at JPMorgan Asset Management warned governments are not jumping on the cryptocurrency bandwagon as they are planning a ban on the digital currencies.
Speaking to Bloomberg he said: “I think that’s the main problem with it.
Cryptocurrency price: A year in charts
Tue, January 16, 2018
Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year
“If you’re trying to avoid the government, ultimately it’s under threat from huge regularity risk because there’s concern around money laundering and everything else.
“I think there’s a big risk from government’s banning these currencies eventually.”
Bitcoin price plunged dramatically in the last 24 hours together with its competitors ethereum and Ripple.
According to Coindesk at 09:44 am on January 17, bitcoin price is $10,610.42.
Bert Dohmen of Dohmen Capital Research said he would never invest in bitcoin or any other cryptocurrency as they will all be taken off the market by governments.
Speaking to CNBC, Mr Dohmen said: “I would not invest into bitcoin even with my worst enemy’s money.
He added “people are going to be very surprised” because governments will not allow the cryptocurrency to have a future.
GETTY
Cryptocurrencies will be replaced by governmental digital currencies, says expert
He said: “That’s competition and government never likes competition.
“Bitcoin and all these cryptocurrencies are going to go out of existence eventually and they will probably be replaced with sort of digital currencies which are going to be issued by central banks.
“That’s what this all think is all about. It’s basically to get people accustomed to digital currency and then, later on, switch the rule from the private bitcoin to a governmental digital currency.”
I would not invest into bitcoin even with my worst enemy’s money
Bert Dohmen
Mr Dohmen is not the first to predict cryptocurrency will be banned by governments.
Mike Bell, global market strategist at JPMorgan Asset Management warned governments are not jumping on the cryptocurrency bandwagon as they are planning a ban on the digital currencies.
Speaking to Bloomberg he said: “I think that’s the main problem with it.
Cryptocurrency price: A year in charts
Tue, January 16, 2018
Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year
“If you’re trying to avoid the government, ultimately it’s under threat from huge regularity risk because there’s concern around money laundering and everything else.
“I think there’s a big risk from government’s banning these currencies eventually.”
Bitcoin price plunged dramatically in the last 24 hours together with its competitors ethereum and Ripple.
According to Coindesk at 09:44 am on January 17, bitcoin price is $10,610.42.
Bert Dohmen of Dohmen Capital Research said he would never invest in bitcoin or any other cryptocurrency as they will all be taken off the market by governments.
Speaking to CNBC, Mr Dohmen said: “I would not invest into bitcoin even with my worst enemy’s money.
He added “people are going to be very surprised” because governments will not allow the cryptocurrency to have a future.
GETTY
Cryptocurrencies will be replaced by governmental digital currencies, says expert
He said: “That’s competition and government never likes competition.
“Bitcoin and all these cryptocurrencies are going to go out of existence eventually and they will probably be replaced with sort of digital currencies which are going to be issued by central banks.
“That’s what this all think is all about. It’s basically to get people accustomed to digital currency and then, later on, switch the rule from the private bitcoin to a governmental digital currency.”
I would not invest into bitcoin even with my worst enemy’s money
Bert Dohmen
Mr Dohmen is not the first to predict cryptocurrency will be banned by governments.
Mike Bell, global market strategist at JPMorgan Asset Management warned governments are not jumping on the cryptocurrency bandwagon as they are planning a ban on the digital currencies.
Speaking to Bloomberg he said: “I think that’s the main problem with it.
Cryptocurrency price: A year in charts
Tue, January 16, 2018
Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year
“If you’re trying to avoid the government, ultimately it’s under threat from huge regularity risk because there’s concern around money laundering and everything else.
“I think there’s a big risk from government’s banning these currencies eventually.”
Bitcoin price plunged dramatically in the last 24 hours together with its competitors ethereum and Ripple.
According to Coindesk at 09:44 am on January 17, bitcoin price is $10,610.42.
GETTY
