Mohamed El-Erian respects role of bitcoin and cryptocurrencies | Headlines | News | CoinMarketCap

Mohamed El-Erian, the renowned Egyptian/American economist and businessman, believes cash is a good option for the economic uncertainties facing everyone. He does however believe that crypto has a future role to play and should be respected.

El-Erian has been warning of a financial collapse for the last several years. He believes that the current high inflation levels will lead to recession, and the role the Fed and other central banks have played has led to a distortion of the financial system.

In an interview yesterday by the New York Magazine, for its Intelligencer section, El-Erian spoke of the central banks’ error in trying to become the market’s “Best Friend Forever” by keeping interest rates artificially low for such a long time.

He feels that the problem …