Crypto-currency advocates often tout Bitcoin as "digital gold," but famed short-seller Jim Chanos said the BTC is the "last thing" he would want to own in a full-blown crisis.

Chanos, who enjoyed fame by predicting the collapse of US energy giant Enron, made the statement in a recent interview with the Institute for New Economic Thinking.
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"For those who believe that you must own a digital currency as a store of value in the worst case, this is exactly the case in which a digital currency will work the least," said Chanos, founder of New Investment York. Kynikos Associates. "The last thing I would like to have is Bitcoin if the grid goes down."

"The food would work best!", He added, continuing:

"For those who believe that it is a store of value in the coming apocalypse, the idea is that you will have to protect your key under a mountain with the security of fingerprints and eyes while the hordes are in danger. outside of your bunker, use it - for which I have no idea. "

Chanos highlighted recent interest in crypto-currencies as stocks have been in a bull market for nearly a decade, prompting investors to be overexcited and acting against their own interests.
"We've been in this bull market for nine years now, like the '90s, so I think things are beginning to seep in," he said, referring to the interest in the initial offer of coins. (ICO). "It's just a game of security speculation posing as a technological breakthrough in monetary policy."

Then, in an ironic version of the name of the publication in which his comments were published, Chanos reiterated the tired - and debunked - criticism that bitcoin is only useful for money launderers, tax evaders and other people seeking to commit financial crimes. .

"Bitcoin is still the area for people trying to avoid taxation or other reviews of their transactions, which I think is still useful, but governments have understood it He concluded.