Mohamed El-Erian, chief economic advisor at Allianz gave an interview to CNBC where he expressed that BTC would be a strong buy once the price fell under $5000. El-Erian, who serves at one of the world’s largest insurance firms, which is also one of the largest financial players worldwide, has commented on the “bubble” nature of BTC in the past several times.

According to a report conducted by Bloomberg back in December, El-Erian claimed back in last December that BTC either will perform a sharp decline which could end as a healthy correction, or it will collapse ultimately and will go down in the history books as another huge bubble of the 21th century.

Now he claims that BTC would be a good buy under $5000, which clearly indicates that know he thinks it is not a bubble after all. Moreover, he added that he is a strong believer of the blockchain tech and like it or not, BTC could easily become a commodity instead of a currency. He has compared it to gold, just like many other people like to do so, claiming that it is a store of value currently and not a form of payment that could change the current financial system:



“It will be a means of exchange,” El-Erian said. “It’s not going to be a currency, it’s going to be another commodity-like asset out there that you can trade, and mainly as a store of value.”