With more and more individuals cashing in on the likes of Bitcoin and other cryptos, Oliver still insists that it is more like gambling than investing. The talk show host also made it a point to state that cryptocurrency combines “everything you don’t understand about money … with everything you don’t understand about computers.”
One of the main draws for cryptocurrency is blockchain, which “allows for decentralized banking records that keeps track of all Bitcoin transactions,” Time points out. According to Oliver, this ultimately makes such transactions “nearly impossible to hack, which could possibly improve security, efficiency, and trust” for banks and large corporations.
Long story short, surrounding the continual rise of cryptocurrency, Oliver remains skeptical. For all of his thoughts on the subject, press play above.
Now, take a look at how Bitcoin millionaires are spending a ton of money on streetwear.