Crypto-currencies have been touted by some as an asset class,
but as stock markets tumbled on Tuesday and gold shot up -
digital money continued its two-month long plummet.
"People say Bitcoin is either you know the next global currency or a busted flush. Now I think the answer lies somewhere between the two. There is always going to be a market for it because there are a great deal of believers around the world that don't believe in Fiat currency and believe that central banks are impacting their wealth. So they will continue, but there will be a tension with regulators over the future. So I don't see it as an alternative to gold and I'm not mortgaging my house and buying any."
Bitcoin, the most well known crypto-currency, slid another 13 percent to below $6,000
meaning it's now lost more than 50 percent of its value so far this year.
Fears of a regulatory clampdown is pushing prices lower - with other cryptocurrencies also dropping sharply in value.
The concerns, do carry weight.
On Tuesday the head of the Bank for International Settlements said Central banks must prepare to act against cryptocurrencies,
because they weren't 'sustainable as money'.
Agustin Carstens went even further describing bitcoin as "a combination of a bubble, a Ponzi scheme and an environmental disaster".
After catching the world's attention with it's 1300 percent rise last year -
it seems Bitcoin could now be a victim of its own success.