expectation institutional investors were gearing. When Satoshi Nakamoto created bitcoin, a message in the cryptocurrencys Genesis block made clear that it was a direct response to banking industry mismanagement and the financial and political structures that continued to enable. Could El-Erian promote further research into crypto initiatives? Just one decade later, US President Donald Trump might tap a cautious crypto optimist to lead the World Bank. While the World Bank executive board ultimately has the final say on who will become the organizations next president following Jim Yong Kims departure, Bloombergs report indicates that Trump will likely have his way, so long as he selects a conventional candidate for the post. The current pricing assumes massive adoption, and I dont think governments will allow the amount of adoption thats currently priced. According to, bloomberg, Mohamed El-Erian is one of several candidates that Trump has shortlisted for the job of World Bank president.
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I think its going to be there, its going to last for a long time, its going to play a role in the ecosystem, but its not going to be the currency that a lot of proponents would like it. In late Q3 2017, for instance, he warned that cryptocurrency investors had massively overvalued bitcoin, pricing in mass adoption much more rapidly than was feasible. If Amazon began accepting bitcoin or other cryptocurrencies it would be a ringing endorsement for the digital tokens. Now, the chief executive of major global bitcoin and cryptocurrency exchange Binance, Changpeng Zhao, has said he expects Jeff Bezo's online retail giant Amazon to be the catalyst for the next bitcoin bull run. As 2018 rolled on and that investment from the established financial industry failed to materialize, many bitcoin and cryptocurrency holders bailed out of their positions, nervous the looming threat of increased regulation and shadows of doubt swirling around general adoption and usage of bitcoin and. The 60-year-old El-Erian currently serves as chief economic adviser at Allianz, where his views on bitcoin have sharply diverged from those of his boss, Allianz CEO Andreas Utermann. Granted, El-Erian is not exactly a crypto bull.