Chief Economic Advisor at financial services company Allianz, Mohamed El-Erian, told CNBC today, June 29, that he thinks Bitcoin (BTC) will eventually be treated as a store of value – and that he would consider buying if the price hits $5,000.
It will not be pure Bitcoin.
In the long term, El-Erian considers that Bitcoin will not serve as a currency in so much as “another commodity-like asset out there that you can trade, and mainly as a store of value.”
Bitcoin is currently trading at $5,885, down almost 4 percent on the day, and over 20 percent this month.
On June 24, BTC also plummeted below the $6K mark, reaching its lowest price level in 2018, a point it had not hit since October 2017.

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