The opposite of the statement of the JPMorgan executive Jamie Dimon who said that the Bitcoin is the biggest fraud ever, Revolut CEO Nikolay Storonsky said that the Bitcoin is commodities similar to gold and oil. Nikolay said that Bitcoin is definitely not a fraud. He exampled his statement with the explanation that though people will not use Bitcoin as a everyday payment method, just like they are not using other commodities like gold.
Nikolay Storonsky has compared Bitcoin with the gold. The amount of gold is also limited, gold also have huge market, huge volumes that are being traded in the market, and these volumes are determining the price of gold. The real question that Revolut CEO are asking is, where is the real gold price? No one know. These facts Nikolay are comparing with Bitcoin, and there are pretty much same. Amount of Bitcoins is limited, Bitcoin have huge market, huge volumes that are defining the price of Bitcoin, the only flaw is that Bitcoin is not implicated in the real world.
Nikolay was also comparing Bitcoin with the oil saying that the 90% of volume on the oil market is speculation, 10 percent is real use case. Same happening with Bitcoin, with some lower percentage. Nikolay is claiming that 99% of transaction volumes are speculation-driven and only one percent involving everyday applications.