Li Yang: Bitcoin can’t be considered a scam, can be used as an asset allocation like gold
According to Phoenix Finance, Li Yang, director of the National Finance and Development Laboratory and a member of the Chinese Academy of Social Sciences, said that Bitcoin cannot be considered a scam, it is a new data asset and people can invest in it like gold, however, it is not a currency. According to Li Yang, after gold was demonetized, it morphed into an investment object and is one of the various investable assets. Now Bitcoin is a digital asset, and it’s in the same class as gold. From an investment perspective, bitcoin is as investable as gold.