El-Erian: Crypto Will Become ‘More Widespread’ But Not ‘Dominant’

Allianz (DE:ALVG) chief economic advisor Mohamed El-Erian said Tuesday that he believes cryptocurrencies will become more “widespread” but as part of a broader ecosystem.

During his appearance at CoinDesk’s Consensus: Invest conference in New York, El-Erian said he thinks cryptocurrencies like bitcoin are commodities rather than currencies, reiterating a view he has expressed in the past.

“There were two confusions made,” El-Erian said. “People called it a currency or an asset class. What it is, is part of the commodity complex.”

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