Oleg Tinkov: cryptocurrencies are about people who want to hide something

Oleg Tinkov, founder of Tinkoff Bank, said that he supports progress, but does not fully understand why cryptocurrencies are needed. He said this during a Clubhouse discussion, Forbes reports.

“This is a very cool thing, as we know, probably. But what is missing for a person when he goes into crypto? It seems to me that this is about people who want to hide something from someone. At the same time, there is no point in opposing progress; the youth wants it,” he said.

Tinkov does not see much point in paying a lot of attention to cryptocurrencies, since, in his words, they are banned in the Russian Federation:

“In Russia this is prohibited, it is not on the agenda. And I do not see that it will be allowed in the near future. In the West, yes — Coinbase IPO is planned; globally this is in demand. Although, in my view, it is not very clear why a person needs Bitcoin specifically and why one cannot pay in euros”.

Earlier, the founder of Tinkoff Bank has spoken about cryptocurrencies in a similar vein.

Earlier, he said that he does not understand what exact problems cryptocurrencies aim to solve, since scammers mainly worry about anonymity, and banks’ transaction processing speed is quite satisfactory.

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