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Bitcoin Mining Resembles the California Gold Rush

During what some call “blockchain week” in New York City, Kitco News’ Daniela Cambone welcomes Marco Streng, CEO and co-founder of Genesis Mining, to the program. Genesis Mining, a partial owner of HIVE Blockchain Technologies, is one of the largest cryptocurrency miners in the world.

Daniela starts by gauging Marco’s reaction to famed investor Warren Buffett’s recent negative comments on the digital currency space. Marco explains that there have always been strong critics toward this emerging industry, and that’s normal. “If something is new and has never been there before, then yeah, people have their opinions,” he says. Daniela also dives into whether or not the mining of digital currencies is becoming too crowded a space, or if there is still room for new participants. See how Marco answers this question by comparing bitcoin mining to the California Gold Rush in the full replay below!

Want to learn more about Marco Streng and crypto-mining? Read Frank Holmes’ interview with him by clicking here.

 

All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.

Frank Holmes has been appointed non-executive chairman of the Board of Directors of HIVE Blockchain Technologies. Both Mr. Holmes and U.S. Global Investors own shares of HIVE, directly and indirectly.