ANXIOUS HERE.
>> EXPECTING LOWER OPENING,
JOINING ME BARRY SILL BERT CEO
DIGITAL CURRENCY GROUP OVERALL
UMBRELLA COMPANY GOOD TO SEE
YOU, LOOK YOU HAVE BEEN A BULL
ON BITCOIN A LONG TIME YOU
WERE A PIONEER IN TERM OF
EXCHANGES INVESTING BEFORE WE
GET TO ABOUT IT SO I KNOW
SPECIFICALLY WHEN YOU SEE A
MARKET LOWER THE WAY IT IS
TODAY NERVOUSNESS WHAT IS
GOING ON DO YOU SEE PEOPLE
PIVOT TOWARD BITCOIN?
DO THEY CHANGE INVESTMENTS OR
DO YOU THINK THEY SHY AWAY
EVERYTHING FROM.
>> WHAT IS REALLY INTERESTING
BITCOIN TENDS TO PERFORM WELL
IN PERIODS OF FINANCIAL
DISLOCATION LIKE GOLD USED TO
BITCOIN PAST 24 HOURS UP 10%.
>> WHY.
>> COULD BE A LOT OF DIFFERENT
THINGS NEWS OUT OF CHINA JUST
ABOUT ETHICALLY LOOKS GREAT,
PRICE UP ALMOST ONE HUNDRED
PERCENT YEAR-TO-DATE OR IT
COULD BE THAT THIS CAMPAIGN WE
LAUNCHED LAST WEEK IS HAVING
EFFECT.
>> TALKING ABOUT THAT IN
SECOND BUT LOOK AT PRICE 5896
YOU ARE TALKING A RALLY YOU
STILL TALKING ABOUT A DECLINE
FROM HIGHS, SO WHAT IS THE
SALES PTO BUY BITCOIN.
>> INTERESTING IS LAST TIME I
WAS ON WITH YOU BITCOIN WAS
500 DOLLARS BITCOIN WAS DONE A
SERIES OF RECORD HIGHS, A
CROPS 80% THEN RECORD HIGHS
AGAIN.
BUT SALES PIS BITCOIN YOUNGER
GENERATION VERSION OF GOLD.
HAS AIL THE SAME
CHARACTERISTICS AS GOLD,
SCARCE, ARE PORTABLE BUT HAS
REAL UTILITY BITCOIN IMPUNITY
CREATING AN ENTIRE NEW PAYMENT
FINANCIAL NETWORK FROM CENTRAL
MARKETS.
>> YOU SEED SOMETHING AS WE
GOTTEN TO GO DIGITAL YOU WANT
A PAYMENT SYSTEM DIGITALLY WHY
BITCOIN THERE ARE
ALTERNATIVES.
>> THOUSANDS OUT THERE BITCOIN
FIRST MOVER A HUNDRED BILLION
DOLLARS MARKET CAP AMAZING
PASSIONATE COMMUNITY, AND I DO
THINK THAT THERE WILL BE LOTS
OF COMPETITION FOR WINNING YOU
CURRENCY OVER TIME BITCOIN IS
DOMINATING ABSOLUTELY
DOMINATING THE CONVERSATION
VERY VOLUME IS OBVIOUSLY LET
ME ASK YOU ABOUT THIS CAMPAIGN
DROP GOLD CAMPAIGN THAT IS THE
MESSAGE FROM INVESTMENTS TO
CHALLENGE A TRILLION-DOLLAR
INSTITUTION ENCOURAGING PEOPLE
DROP GOLD FROM PORTFOLIOS IN
FAVOR OF BITCOIN SECRETARYING
AT SALT CONFERENCE I KNOW YOU
ARE COMMUNICATING THIS WHY
SHOULD I DROP GOLD PEOPLE SAY
GOLD IS A REAL HEDGE IF I
THINK THINGS ARE NEGATIVE
ELSEWHERE I WANT TO OWN DPOLD
A CHANGEABLE ASSET.
>> 8 TRENDS OF GOLD TODAY WHAT
IS INTERESTING THE YOUNGER
GENERATION OF INVESTORS PEOPLE
NOT YET ALLOCATED INTO GOLD
VIEW GOLD SAME WAY PARENTS OR
GRANDPARENTS DID WE GREW UP
AFTER GOLD STANDARD, SO THE
BIGGEST BUYERS OF GOLD LARGE
WAS HE BUYERS OF GOLD ARE
CENTRAL BANKS THERE IS THIS
DISCONNECT BETWEEN GOLD BUGS
SAYING YOU VEST IN GOLD
BECAUSE YOU TAKE ISSUE WITH
CENTRAL BANKER, FISCAL
MONETARY POLICY DECISIONS,
THEY ARE THE ONES BUYING ALL
THE GOLD.
SO IF YOU DO WANT TO MAKE AN
INVESTMENT THAT WILL PERFORMER
WELL WITH THINGS DON'T GO WELL
WHY ALIGNING YOURSELF WITH
CHINA, AND RUSSIA ALL
COUNTRIES THAT ARE AMASSING
ALL THE GOLD.
>> ISN'T THAT THE REASON YOU
WANT TO OWN GOLD?
BECAUSE CENTRAL BANKS ARE NOT
THE GOING TO SELL IT SO EASILY
GOING TO BE STABLE, SO IF
MARKET IS PLUMMETING IN TERMS
OF STOCK DON'T I WANT TO GO TO
SOMETHING REAL TANGIBLE I KNOW
IS NOT GOING TO HAVE THAT KIND
OF VOLATILITY.
>> ULTIMATELY THE WAY GOLD
WILL HAVE MEANINGFUL VALUE IF
U.S. DOLLAR DECLINES IN VALUE
SO ESSENTIALLY --
>> NO, WHY ARE -- WHY BET
AGAINST U.S.?
WITH BITCOIN SAME
CHARACTERISTICS OF GOLD
INVESTING IN SOMETHING HAS
REAL UTILITY UPSIDE A HUNDRED
BILLION DOLLARS RELATIVE TO 8
TRILLION GOLD TAKES A LOT FOR
GOLD PRICE TO DOUBLE FROM 8
TRILLION SAT A HUNDRED
BILLION, CARVE OFF FEW PERCENT
FROM TRILLION GOLD MARKET
MEANINGFUL.
>> THERE IS A LIMITED AMOUNT
OF BITCOIN.
>> LIKE GOLD FINITE IN SUPPLY,
IT IS SCARCE, BUT HAS UTILITY,
AND ALSO MUCH MORE ACCESSIBLE
ANYBODY WHO HAS A PHONE ANYONE
IN WORLD CAN GET BITCOIN GOLD
IS HEAVY EXPENSIVE TO STORE IT
DOESN'T REALLY DO ANYTHING
OTHER THAN MAKE NICE JEWELRY.
>> THAT IS TRUE, I ACCEPT THAT
IT IS SEEN AS A HEDGE YOU ARE
GOING TO HAVE THE CHANGE A
GENERATION OF YOU KNOW,
THINKERS IN TERMS OF HOW DO I
SAVE MONEY AND HEDGE AGAINST A
DECLINE OF DISRUPTION
ELSEWHERE.
>> I THINK THE DROP GOLD IS
INTENDED TO ABOUT PROVOCATIVE
HAS DONE GOOD JOB MONITORING
GOLD AS HEDGE INVESTMENT WHEN
A BETTER ONE CALLED BITCOIN.
>> CRYPTOCURRENCY, FACEBOOK,
FACEBOOK IS RECRUITING
FINANCIAL FIRMS ONLINE MERE
CHANTERS TO LAUNCH A
CRYPTOCURRENCY BASED PAYMENT
SYSTEM COULD GRAETH EFFECT
CURRENT CRYPTO MARKETPLACE
YOUR TAKE ON FACEBOOK.
>> WE ARE UNDER NONDISCLOSURE
WITH FACEBOOK I CAN'T SPEAK TO
THAT, YOU SEE SQUARE, FIDELITY
NEW YORK STOCK EXCHANGE
INVOLVED IN CREATING FROM YOUR
TO SUPPORT COISM JAMIE DIMON
HATES BITCOIN LAUNCHING J.P.
MORGAN COUNTY.
>> HE DID HATE IT UNTIL HIS
DAUGHTER SCORED --
>> BITCOIN.
>> MADE --
>> WHAT DO YOU SAY TO THOSE
INVESTORS WHO GOT BURNT ON
BITCOIN BECAUSE THEY GOT IN
THE TOP THEN IT WENT DOWN THEY
ARE SEEING THIS AS A REAL
RISKY BET MUCH RISKIER THAN
GOLD.
>> IT CERTAINLY IS A RISKY BET
YOU SHOULD NEVER PUT MORE
MONEY INTO BITCOIN THAN YOU
CAN AFFORD TO LOSE ABSOLUTELY
BUT THIS IS THIS IS A PERHAPS
A GENERATIONAL OPPORTUNITY, TO
GET INVOLVED, IN AN ASSET THAT
IS GOING TO DISPLACE WHAT GOLD
DID OR PLAYED WHEN THE
PORTFOLIOS PAST 20 YEARS I
THINK A REALLY INTERESTING
OPPORTUNITY THAT PROVIDES A
LOT OF UPSIDE.
>> TELL ME HOW BITCOIN CHANGES
NEXT 20 YEARS WHAT KIND OF A
VISION DO YOU SEE FOR BITCOIN.
>> FIRST IT IS GOING TO
DISPLAY OF GOLD AS THE STORE
VALUE INVESTMENT THAT GOES
INTO PORTFOLIOS, MORE
IMPORTANTLY, THERE IS AMAZING
O INNOVATION HAPPENING
THOUSANDS OF COMPANIES FUNDED
5 BILLION DOLLARS RAISED IN
COMPANIES PAST FIVE YEARS
BUILDING INFRASTRUCTURE TO
MAKE IT REALLY, REALLY EASY TO
GET ON AND OFF THE
CRYPTOCURRENCY SUPERHIGHWAY
ONCE YOU HAVE ACCESS TO
DIGITAL MONEY THE SKY IS THE
LIMIT YOU MOVE FRICTION AND
MIDDLE MEN COSTS THINK ABOUT
THE ABILITY TO MOVE MONEY
ANYWHERE AROUND THE WORLD
BASICALLY FREE HOW POWERFUL