Mohamed El-Erian Argues Bitcoin's Drop Is Due To Flight of Speculative 'Tourist' Investors, But This Analyst Says It's 'Not the End of the World'

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Economist Mohamed El-Erian said on Tuesday that Bitcoin (CRYPTO: BTC) is still dominated by “tourist” investors who fuel short-term price swings, pointing to the heavy outflows from the iShares Bitcoin Trust ETF (NASDAQ:IBIT). Flight Of Speculative Buyers Behind Bitcoin’s Decline? El-Erian, who is the Chief Economic Advisor at Allianz, argued that Bitcoin’s investor pyramid remains “upside down,” i.e, whi ...