Federated’s Chiavarone On Bitcoin: Blockchain is the Key
Steve Chiavarone of Federated discusses the stock market, earnings and cryptocurrencies with Brian Sullivan of CNBC.
Asked how many of Chivarone's clients are inquiring about Bitcoin and similar cryptocurrencies, there was an acknowledgement of more than he had anticipated.
They are asking such question as "Is it real" and "What do I think about it".
He advised: "You shouldn't miss the value blockchain. The currency itself isn't a great medium of exchange....It's not a great stored value, it has a fixed amount so the Fed would have to kill it at some point because they wouldn't be able to engage in monetary policy. They can't increase or decrease the supply of it. But blockchain behind it we think is more real than people are giving credit."
Watch the discussion on cryptocurrencies starting at 3:10 below
