POG, page-8

I think there will be a day of reckoning on crypto. Why?

it will never replace money, the central banks around the world won’t allow it. They will come up with their own versions in time and ban the use of other crypto which will be much like the banning of gold ownership which governments have done in the past when fiat is threatened. Central bank crypto will, of course, just be another fiat currency.

Crypto doesn’t produce a cashflow so in that sense doesn’t have a yield. So you can’t really call it an investment.

and can someone tell who the hell would borrow crypto to buy other assets or commodities when the price is as volatile as it is? Imagine if you’d borrowed crypto a year ago to buy machinery for a business...

UTV