For those of you that are considering jumping on the cryptocurrency bandwagon, Goldcorp chairman Ian Telfer has a strong warning.
Telfer believes governments will not allow crypotcurrencies to exist and they will ultimately go to zero.
“It will go to zero,” Ian Telfer said with regards to bitcoin. The cryptocurrency has taken markets by storm but to the veteran mining entrepreneur, it is not something to get too excited about. Speaking with Kitco News in Toronto, the Goldcorp chairman warned investors to be “very, very” careful. “I don’t think it’s stealing gold’s thunder,” he said. “Longer term, I am personally not sure how these cryptocurrencies are going to work and I’m not sure governments are going to let them exist.”