Accenture Managing Director Andrew Charlton says folks must be “very, very cautious” of cryptocurrencies amid information Bitcoin worth hit an all-time excessive.
“Finally it is a huge gamble,” Mr Charlton instructed Sky Information host Peta Credlin.
“At greatest, its solely utility in our lives is as a retailer of worth, like as a substitute for gold or as a substitute for onerous forex.”
He stated these aspiring to spend money on Bitcoin want to recollect it’s “truly not an excellent retailer of worth”.
“It’s fairly onerous to transact with, it’s fairly costly to create, it’s not very secure by way of the best way it shops worth”.
“For me, the kicker is the next factor: the quantity of vitality it takes to create and mine Bitcoin, this forex is created by supercomputers churning away.”
“So if folks suppose this forex is the longer term … I feel they need to suppose very rigorously about that.”