Bitcoin

Gold

<p>A senior analyst at Mizuho Securities, a subsidiary of Japan’s largest financial conglomerate Mizuho Financial Group, has criticized Bitcoin and cast doubt on the stable future of the leading cryptocurrency. Dan Dolev, speaking on CNBC’s The Exchange, expressed skepticism about Bitcoin as an investment instrument. The analyst pondered whether Bitcoin resembles more a growing stock or a savings tool. He then answered himself: right now, Bitcoin is closer to the latter, but it lacks substantial fundamental support. This indicates the cryptocurrency’s weak viability.</p>
<p>The analyst compared Bitcoin to gold and other investment instruments. Gold has always existed, people are accustomed to it, and they have a predisposition to love this precious metal. However, the analyst personally believes more in real estate. A specialist from Mizuho Securities noted a trend: bank clients are shifting from products with zero or low interest rates to higher-yield options. This expands opportunities for fintech companies, which can offer innovative products without the need for physical offices. Therefore, fintech companies and digital solutions have a chance to surpass traditional banks, concluded Dan Dolev. A few years ago, Mizuho Bank entered into an agreement with credit card issuer JCB to launch a blockchain-based digital identification system developed by Fujitsu Laboratories.</p>

Senior analyst at Mizuho Securities: Bitcoin is unlikely to remain viable

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