CryptoOracle Venture Capitalist Lou Kerner: Bitcoin is Much, Much Better than Gold
VC Lou Kerner: Bitcoin Will Supplant Gold
Kerner, the co-founder of CryptoOracle, a platform that provides cryptocurrency advisory services and that operates a venture fund focusing on decentralized technologies, believes that bitcoin offers something “much, much better.” As a result, Bitcoin will take gold’s place.
In Kerner’s view, Bitcoin has a bright future, despite its periodic declines. Brian Kelly, another cryptocurrency fund operator and CNBC contributor shared that “nervous money” may be existing Bitcoin because those who purchased it cannot manage the volatility. Kelly also added that Bitcoin could surge in price of financial institutions such as the NYSE and Goldman Sachs adopt it.
During another interview, the host asked Kerner if he agrees with Kelly’s view that “nervous money” is existing the cryptocurrency market and whether such a development is positive. Kerner responded that volatility is to be expected because Bitcoin is a new asset and that other such assets, like junk bonds, were extremely volatile.
“Forty years later, [junk bonds are] the same as everything else” and “We think bitcoin is just going along the same structure” but any new asset in its early days is very volatile. Further, “Nobody knows how to price it, and that’s exactly what were seeking with bitcoin.”