LinkedIn founder and chairman Reid Hoffman told CNBC he remains a believer in bitcoin, but he says the digital currency is only in the first inning and it is not for everybody. <\/p>\n
\"The advice I give my friends is don't buy any bitcoin that you wouldn't be comfortable losing, rather like a seed investment in a technology company,\" he said Thursday during a \"Squawk Box\" interview from the World Economic Forum in Davos. <\/p>\n
Read More Bitcoin finds a place among the world's elite<\/p>\n
Hoffman, who owns bitcoin and invests in two bitcoin companies, said the least interesting part of the digital currency is its trading price, which has been volatile. <\/p>\n
Bitcoin as a platform for machine-to-machine transactions is where the real value lies, he said. <\/p>\n
\"As you think of your car becoming a software vehicle, it could automatically handle parking, bridge tolls, all the rest of it if it had a machine-to-machine currency,\" he said. <\/p>\n
Read MoreRussians move into bitcoin as ruble tanks<\/p>\n
The currency also holds the potential to bank the un-banked in markets where it is too expensive for the banking system to support digital transactions, he said. <\/p>\n
<\/p>\n
Continue reading here:<\/p>\n
Bitcoin investor's warning on bitcoin<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" LinkedIn founder and chairman Reid Hoffman told CNBC he remains a believer in bitcoin, but he says the digital currency is only in the first inning and it is not for everybody. Continue reading