Dennis Gartman shares why he is staying away from bitcoin: ‘Don’t understand it’

  • Bitcoin hit another record Monday, but commodities whiz Dennis Gartman still isn’t buying.
  • Gartman said he appreciates bitcoin’s introduction of blockchain technology.
  • “What bothers me is that something that can move 5, 10, 15, 18 percent in the course of the day for what’s supposed to be a pricing mechanism,” Gartman said.
  • How can you buy Starbucks with bitcoin when the price is going to fluctuate as [dramatically] as it has?”
  • When bitcoin was introduced, it was supposed to be better than common currencies like the dollar or euro because it was supposed to be finite, Gartman said.

Bitcoin hit another record high on Monday, but commodities whiz Dennis Gartman still isn’t buying.
Continue reading “Dennis Gartman shares why he is staying away from bitcoin: ‘Don’t understand it’”

Dennis Gartman shares why he is staying away from bitcoin: ‘Don’t understand it’

  • Bitcoin hit another record Monday, but commodities whiz Dennis Gartman still isn’t buying.
  • Gartman said he appreciates bitcoin’s introduction of blockchain technology.
  • “What bothers me is that something that can move 5, 10, 15, 18 percent in the course of the day for what’s supposed to be a pricing mechanism,” Gartman said.
  • How can you buy Starbucks with bitcoin when the price is going to fluctuate as [dramatically] as it has?”
  • When bitcoin was introduced, it was supposed to be better than common currencies like the dollar or euro because it was supposed to be finite, Gartman said.

Bitcoin hit another record high on Monday, but commodities whiz Dennis Gartman still isn’t buying.
Continue reading “Dennis Gartman shares why he is staying away from bitcoin: ‘Don’t understand it’”

Bitcoin bug calls out Peter Schiff’s gold infatuation

  • While not exactly Lincoln vs. Douglas, perma-gold bull Peter Schiff squared off against Bitcoin bull Brian Kelly in a lively, no-holds-barred debate about what is the better investment on Monday’s “Fast Money” on CNBC.
  • Bitcoin “is digital fool’s gold — today’s bitcoin could be tomorrow’s Beanie Babies,” said Schiff, who serves as CEO of Euro Pacific Capital.
  • Bitcoin hit an all-time high on Monday; gold is up 9 percent in 2017.
  • However, “Fast Money” trader Brian Kelly believes the prospects in gold pale in comparison to the opportunities that Bitcoin will soon offer “Bitcoin is more than digital gold,” explained Kelly.
  • Furthermore, Kelly views Bitcoin as a platform wherein global financial systems will undergo major “Not since the internet has so much been built on top of a platform,” exclaimed Kelly.

Peter Schiff takes on Brian Kelly over whether gold or bitcoin is the better investment.
Continue reading “Bitcoin bug calls out Peter Schiff’s gold infatuation”

Bitcoin bug calls out Peter Schiff’s gold infatuation

  • While not exactly Lincoln vs. Douglas, perma-gold bull Peter Schiff squared off against Bitcoin bull Brian Kelly in a lively, no-holds-barred debate about what is the better investment on Monday’s “Fast Money” on CNBC.
  • Bitcoin “is digital fool’s gold — today’s bitcoin could be tomorrow’s Beanie Babies,” said Schiff, who serves as CEO of Euro Pacific Capital.
  • Bitcoin hit an all-time high on Monday; gold is up 9 percent in 2017.
  • However, “Fast Money” trader Brian Kelly believes the prospects in gold pale in comparison to the opportunities that Bitcoin will soon offer “Bitcoin is more than digital gold,” explained Kelly.
  • Furthermore, Kelly views Bitcoin as a platform wherein global financial systems will undergo major “Not since the internet has so much been built on top of a platform,” exclaimed Kelly.

Peter Schiff takes on Brian Kelly over whether gold or bitcoin is the better investment.
Continue reading “Bitcoin bug calls out Peter Schiff’s gold infatuation”