# Professor David Yermack shares his views on bitcoin as an investment

1 Faculty News October 4, 2017 ![Xinhua logo](/sites/default/files/styles/246w/public/assets/images/con_030505.jpg?itok=6NqP0rMN)>

Excerpt from [Xinhua](http://news.xinhuanet.com/english/2017-10/01/c_136652647.htm) -- "[Yermack](http://www.stern.nyu.edu/faculty/bio/david-yermack) said Bitcoin trading is 'pure speculation' and anyone who invests in this is 'buying an asset that is so new that no one really understands and is not really getting any of the regulatory protection that you would get in the stock markets or the commodities markets.'"

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