---
title: "Allianz analyst: cryptocurrencies will spread, but will not surpass Fiat | ICOLINK"
description: "Senior economic adviser to insurance giant Allianz, Mohamed El-Erian, said he believes in the spread of cryptocurrencies, but only as part of a broader blockchain ecosystem. El-Erian told on the Consensus Invest event in New York that he sees Bitcoin and cryptocurrency as commodities rather tha"
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date: "2026-07-03T06:55:46+00:00"
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---

# Allianz analyst: cryptocurrencies will spread, but will not surpass Fiat

> Senior economic adviser to insurance giant Allianz, Mohamed El-Erian, said he believes in the spread of cryptocurrencies, but only as part of a broader blockchain ecosystem. El-Erian told on the Consensus Invest event in New York that he sees Bitcoin and cryptocurrency as commodities rather tha

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Wednesday, 28 November 2018

Senior economic adviser to insurance giant Allianz, Mohamed El-Erian, said he believes in the spread of cryptocurrencies, but only as part of a broader blockchain ecosystem. El-Erian told on the Consensus Invest event in New York that he sees Bitcoin and cryptocurrency as commodities rather than currencies.

**"There were two confusions made,"** El-Erian said. **"People called it a currency or an asset class. What it is, is part of the commodity complex."**

**"I think cryptocurrencies will exist and will become more and more widespread, but they will be part of an ecosystem. They will not be dominant as a lot of the early adopters believe they will be,"** said Allianz's advisor.

El-Erian said that, in his opinion, the global economic crisis of the late 2000s led to the emergence of Bitcoin, which resulted in a **"lack of trust"** between participants in the financial ecosystem.

**"Yes, we have a big trust deficit. I don't think we'd be up here on stage today if there had there not been a shock to the trust in the way the economy works,"** said El-Erian. The economic adviser also noted the significantly increased interest of institutional investors in the cryptocurrency industry.

**"When people saw it was going straight up and saw who was getting sucked into this phenomenon, they started warning. And I do think those were appropriate warnings,"** El-Erian summed up his speech.

It should be noted that in September, El-Erian expressed the opinion that cryptocurrency "will remain for a long time."

[SOURCE](https://www.coindesk.com/el-erian-crypto-will-become-more-widespread-but-not-dominant)

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