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US President’s Former Economic Advisor Says That Bitcoin Is Not The Best Way To Store Money

US President's Former Economic Advisor Says That Bitcoin Is Not The Best Way To Store Money

 Gary Cohn, who worked with the United States President Donald Trump, as a chief economic advisor at the white house, has left the same nearly four months ago and is looking forward to some new and interesting challenges, the man, who also held the post of president at the firm named Goldman Sachs, recently stated in an interview that he is now eyeing the cryptocurrency universe, in particular. He said that according to him, there are more and much better ways to store money, than trading and dealing in Bitcoins.

The man also said that he is more interested in the future possibilities of the cryptocurrency that what the current situation of the same is. He believes that the new world of the cryptocurrency has to have some sort of important use and that the cryptocurrency cannot possibly be just a store of valuation while there are many more practically possible ways to store the value. The man shared his thoughts during a charity event, when he was asked about his plans after leaving the White House behind.

Gary, who quit soon after the US President Trump imposed tariffs on the imports of aluminum as well as steel, has been stating this fact about the cryptocurrency since a long period of time. He had said that the bitcoin, being complicated in nature, works pretty much against the flagship cryptocurrency. He believes that the cryptocurrency that will emerge in the future as a global one, will be much better understood and it will not be generated by mining.

The man has held the positions of the co-chief operating officer as well as the president, at the famous wall street giant Goldman Sachs. while the man is against the cryptocurrency, at least in some aspects, his former employer has quite a progressive stance on the same.

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Mark McCarthy

Mark McCarthy

Mark has completed a Masters Degree in Business Administrations. He holds a strong understanding of the business world with about 10 years of presence in the industry. He has been working as an affluent source of knowledge and is a well-known persona in the business sector. He is admired for greatest inputs in his field. He contributes with a unique style of communication in Lincoln Trail Publishing. He loves listening to classical music in his leisure time.