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Convergex’s Nicholas Colas Offers Refreshingly Balanced View of Bitcoin

With the meteoric rise in the price of BTC over the past few months, most press coverage has generally attributed either the status of fad-driven bubble or anarchic revolution to the world’s favorite new currency. As such, it’s a pleasure to see Convergex Chief Market Strategist Nicholas Colas offer a balanced overview of Bitcoin.

“It could be a fascinating experiment in a brand new currency; one that knows no borders, knows no boundaries, and in many cases knows no rules,” Colas States, before noting that he discusses it with his clients as a “valuable part of a diversified portfolio.” This is a healthy view of Bitcoin – as a way to diversify away from the inflation and capital control risks posed by agenda-driven national currencies, while also recognizing the extreme volatility and hesitant uptake to date by the broader population.

Bloomberg’s reporter poses a question she “get’s a lot on Bitcoin” about the difference between Bitcoin and PayPal. We understand that Bitcoin is still a new concept – if you’re reading this and don’t yet understand the difference between a payment processor and a currency, we’d encourage you to check out TGB’s What is Bitcoin?

Credit to Nicholas Colas for elevating the conversation. Take a look:

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