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"There are a number of companies that are looking at, and in fact have embraced, a gold-backing for a blockchain vehicle," famed bear David Tice tells CNBC approximately 6 minutes into the below video following a discussion on the somewhat volatile overall market these past few weeks.
"One of the issues a lot of old timers have had with Bitcoin and blockchain is that it's not backed by anything other than the energy to provide the calculated mathematics in order to create the blockchain," he adds. "However, what you have is a limitation to the supply."
Tice admits he owns some cryptocurrencies in his vast portfolio though wishes he had more.
"I've been a believer for some time."
Watch below
- Aaron Goldstein, Gambling911.com
