J.C. Flowers Founder Chris Flowers believes Bitcoin (BTC-USD) "is really laughable as a serious alternative payment method," he told Bloomberg at a conference. Bitcoin (BTC-USD) is "too slow, too expensive," Flowers said. The world's largest digital token by market cap reached a record high of about $69.4K on Wednesday amid inflation fears, but has since pulled back to $63.5K so far on Friday. Flowers thinks that Bitcoin (BTC-USD) "really has zero correlation with gold," though on the same day that BTC reached its new milestone, Gold (XAUUSD:CUR) and Silver (XAGUSD:CUR) also jumped in response to higher inflation prints. See why billionaire hedge fund manager Paul Tudor Jones thinks crypto offers a great inflation hedge.
