Bitcoin is not a real asset. That’s the view of the Chief Executive Officer of US$285 billion Canadian based global asset manager Brookfield Asset Management.

He was quoted in the Australian Financial Review today saying, “It has no intrinsic value. There isn’t anything in it.

There is nothing it will do to create wealth. Our definition of an asset is something that generates cash or has the ability to generate cash.

Bitcoin does not generate cash and it has no ability to ever generate cash. Therefore it isn’t an asset”.

Similar views have also been shared by top business leaders and investors such as Warren Buffett, Howard Marks and Jamie Dimon but then again, other business leaders have expressed contrarian views. Twitter founder and CEO Jack Dorsey was quoted in a recent interview with The Times saying that he believes that the cryptocurrency will become the world’s single currency within 10 years. Read more from…

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