U.S. Global Investors CEO: millennials have different values and it helps the crypto market

Frank Holmes, chief executive of U.S. Global Investors, the enterprise mostly about investing in natural resources and emerging markets, told his own views on Bitcoin to CNBC, and one can detect a major shift of how some institutional investors now view cryptocurrency in comparison to Jamie Dimon’s infamous “fraud” characterization.

When answering to the question about consumer protection issues, he replied that this reminds him of the 1990s Internet. But Bitcoin, while it does have some issues, has attracted so much people to the power of blockchain that it cannot be called bad, Mr. Holmes insists. He compares this situation to how e-mail services have woken up everybody to the power of the Internet. And we don’t know who of the current cryptocurrency market figures is going to survive, Google, as one can remember, surpassed Yahoo eventually, tells Frank Holmes.

The CEO of U.S. Global Investors takes an interesting line of defense when it comes to cybersecurity and criminal issues of cryptocurrency. He reminds that Sony Pictures Entertainment, being an institutional and traditional corporation, was hacked too, and that many people still buy guns and drugs for paper money, but nobody suggest to outlaw this type of payment.

Millennials, often characterized by the media and corporations as stupid kids who don’t want to live like their parents did and necessarily have to buy what they sold, have quite unexpectedly been called a positive market factor for fintech. Frank Holmes compares the current swiftness of opening cryptocurrency brokerage accounts to how millennials use Tinder to set up dates faster than ever before. And his tone did not imply it’s something bad, rather, he seems to have suggested not to ignore both this and the fact that ICOs, also possibly thanks to millennials, get more revenue than some traditional investment attraction schemes.