Investor in Silicon Valley: Bitcoin is a Great Way to Store Money
November 20, 2017
In an interview with CNBC Bill Gurley, general partner of Benchmark and a venture investor in Silicon Valley, said that he considers Bitcoin as the best solution for keeping money in countries that are experiencing serious economic and political difficulties.
"I believe that Bitcoin is a great way to store money," Gurley said.
Many bankers and financial investors expressed their doubts about the benefits of the cryptocurrency and its future prospects. Some of them openly expressed sharp statements that Bitcoin is a "criminal currency" that "will explode at the next moment."
Gurley, regardless of his most colleagues' opinion, said that he does not consider Bitcoin a fraud. Moreover, he admitted that his company Benchbank has a certain possession of the digital currency.
The investor added that Bitcoin will be extremely useful for the countries that are running into economic difficulties. He noted that in such countries, as a rule, it is difficult to find any institutions that can be trusted with their savings.
"Many residents of such countries will prefer to store and receive money in Bitcoin rather than in the national currency," Gurley said.
This is the type of the situation to be observed in Zimbabwe and Venezuela now. In these states, where the local currency has crashed under the onslaught of severe hyperinflation, the residents are already actively using the oppurtunities provided by the most popular cryptocurrency.