Metalla Royalty & Streaming CEO Brett Heath has warned that crypto will “lead the charge into the next financial crisis” and questioned the true intrinsic value of Bitcoin.
The CEO of precious metals royalty and streaming company Metalla Royalty & Streaming, Brett Heath has warned that crypto will “lead the charge into the next financial crisis.”
Metalla Royalty & Streaming is a Canadian-based firm founded in 1983 and has a current net worth of almost half a billion dollars. Metalla offers exposure to precious metals through gold and silver royalties and streams.
Speaking to financial news outlet Kitco News on May 28, Heath compared crypto to the tech induced crash of the early 2000s and the 2008 mortgage crisis, noting that:
When you look back the last few decades and you look at all of the financial crises that happened, you know, they all have a couple of things in common. And one of them is the mass adoption of a new financial product or a new technology that’s not very well understood.
“If we just rewind to the mortgage crisis of 2008 […] We had the mass adoption of mortgage-backed securities, collateralized debt obligations. And once the public had embraced this, this new financial product then it crashed, It was a huge problem,” he added.