Take 15: Bitcoin and Monetary Policy (Video)

Nicholas J. Colas managing director and chief market strategist for ConvergEx Group, discusses his views on Bitcoin as an alternative currency payment system and phenomenon.

In a poll of our readers last April, only 17% of respondents believed that Bitcoin will remain a viable alternative to government-sponsored currencies for the long term. “This is something very new and very unique, and therefore has a very high potential for failure, because it might take two or three next iterations of virtual currency to build the right structure,” Colas warns. “All we can say right now is that Bitcoin is far and away the most elegant solution to a decentralized currency that we’ve see so far.”

This episode of the Take 15 Series was originally released on 30 January 2014.

Are you viewing this post on a mobile device? Download the CFA Institute app from the App Store or Google Play to watch this and other videos.

Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.

Ron Rimkus, CFA

Ron Rimkus, CFA, is a content director at CFA Institute, where he focuses on economics and alternative investments. Previously, he served as CEO at the online technology company he founded, Chaos Management, Inc. Prior to founding Chaos Management, Rimkus served as director of large-cap equity products for BB&T Asset Management, where he led a team of research analysts, regional portfolio managers, client service specialists, and marketing staff. He also served as a senior vice president and lead portfolio manager of large-cap equity products at Mesirow Financial. Rimkus earned a bachelor of arts holds a BA in economics from Brown University and an MBA from the UCLA Anderson School of Management. Topical Expertise: Alternative Investments · Economics