Richard Turnhill, the strategian for BlackRock money and so the largest cash manager in the world, owns no Bitcoin, and doesn’t understand what a good value would be. according to a recent interview, the analyst was fast to means that commodities costs are supported inherent worth, and he sees none in cryptocurrencies.
The interview includes optimistic predictions on effectively everything, from equities to stocks, with the ultimate statement concerning Bitcoin being the sole comparatively negative comment. Turnhill created is evident that his position is one supported analysis. Per the interview:
“I would say that cryptocurrencies show several characteristics of a bubble at once, that is [to say] you have seen spectacular value will increase. the main argument for getting them is that costs have up, and are therefore getting to continue to rise over time. however there is no inherent right or wrong value for bitcoin. you may say 'what's the fair value?' you know, i am an investor, i like to suppose the fair value of stocks of bonds. i can not answer what is the fair value for bitcoin or any cryptocurrency. For that reason, i am not an owner.”
---------Richard Turnhill