Vanguard: Bitcoin Cost Will Plummet to Zero
May 22, 2018
Joe Davis, leading economist of Vanguard, is convinced, cost of Bitcoin may fall to zero as expected due to lack of fundamental economic aspects when shaping its rate.
Davis added, Bitcoin has got no viable fields for application so it is useless as money. Bitcoin does not influence fiat currencies turnover in any way unlike shares, for instance, while cost of cryptocurrencies is based on sheer speculation.
The expert insists on the idea that investing into Bitcoin is gainless in the long term and calls for all investors to opt for conventional methods.
Despite everything mentioned above, Davis noted, Vanguard has successfully been applying blockchain for some time.