Bitcoin's current price assumes that the digital currency will experience "massive adoption," but governments worldwide won't "allow the amount of adoption that's currently priced in," he said. Nevertheless, there is a future for bitcoin in the form of peer-to-peer payments.
When prompted to suggest a fair value for bitcoin, El-Erian answered that bitcoin should be worth at least half or even one-third of its current value of just shy of $4,000. As such, the price of bitcoin is going to "blow up."
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