Professor of Finance from the United States: Crypto Currency Quickly Becomes an Alternative to Gold

According to Aswat Damodaran often referred to as Wall Street’s “Dean of Valuation, a finance professor at the New York Business School, people are increasingly choosing crypto-currencies rather than gold.
In his recent post, the expert noted that, in the final analysis, crypto-currencies, in the alternative to central banks issued by the central banks,
could replace gold in the course of time.
He also said: “I don’t believe cryptocurrencies are now or ever will be an asset class,” or that they will change the “fundamental truths of risk, investing and management.”

Aswat continued:

Bitcoin is not an asset, but a currency, and as such, you cannot value it or invest in it. You can only price it and trade it.”
The financial expert confirmed his statement, saying that bitkoyn does not “generate cash flows”, which should be categorized as an asset, or “raw materials”, which classifies it as a commodity.

“The choice then becomes whether it is a currency or a collectible,” Damodaran said.
It is noteworthy that Aswat Damodaran disagreed with the recent comment by Jamie Dimon from JPMorgan Chase that bitkoin is a “fraud”.

Finally, the professor expressed confidence that soon there will be digital currencies, which will compete with fiat money.

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