Cryptocurrencies like bitcoin look like the future of consumer payments, precious-metals expert David Yoe Williams says.
"Is it going to happen today or tomorrow? No, I don't think so. But are we moving towards that? ... I think very much so," Williams said during TheStreet's August Trading Strategies roundtable.
The expert said bitcoin and the like sit at an important crossroads of several key investing trends. "[When] you're talking about cryptocurrency, you're talking about Millennials and kids and the future and technology and that kind of stuff," Williams said.
He said cryptocurrencies' easy adaptability to mobile-phone payments make them ideal younger consumers, who all seem to whip out their cell phones to pay for things rather than using cash or even credit cards.
Williams said that when he recently tried to enter a baseball game using a paper ticket, "these kids were flying past me because they're using their phones and they're going 'beep, beep, beep, beep.' If you have crypto on your phone, the transactional ease is so great for [the Millennial] generation and beyond."
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