I'm just reading an article in the newspaper. Klaus W. Wellershoff (a last chief in UBS Bank) says that's impossible to use a currency with volatility as money. If the value of the money decrease, that means the value of the merchandise decrease. For example : if you buy a flat with bitcoin and few years later the bitcoin value decrease... Your flat lose his value as well.
What do you think about this argument?
is he really a chief UBS bank? because his reasoning doesn't sound like a chief. he should know that if you exchange your current asset into a different one it doesn't matter if the value of the previous asset decrease. the current asset you have is still have the same value when the time you exchange it. as a Chief he's knowledge about this should be vast. unless what he said is Biased against cryptocurrency.