UBS's Donovan on Bitcoin: A Bubble Is a Bubble, ‘Will Double on Monthly Basis’

Steve Keen, economics professor at Kingston University, and Paul Donovan, global chief economist at UBS, discuss bitcoin and its legitimacy. They speak with Tom Keene on "Bloomberg Surveillance."

Donovan says that he talks about two functions that Bitcoin and money have in general

“One is the store of value and people actually say that is a positive of Bitcoin. The other is to be used for transactions.  You can’t call something money if you can’t use it for transactions.”

Donovan predicts that Bitcoin will continue to go up in price “virtually doubling on a monthly basis”.

WATCH BELOW

BetOnline also now accepting Litecoin, other crypto-currencies