Cryptocurrencies were created for illegal transactions that are impossible to make in fiat and are prohibited by regulator rules, the head of Polymetal believes.

Vitaly Nesis, general director of Russia's leading gold mining company and younger brother of Russian billionaire Alexander Nesis, revealed his attitude to cryptocurrencies. In an interview with RBC, he responded to a journalist's question about what he thinks about cryptocurrencies backed by gold.

"But why should create cryptocurrency backed by gold? It's like mixing black caviar with honey. Separately both are tasty, but together it is nonsense."

Vitaly Nesis also cracked down on bitcoin, first stating that he did not see the point in it, and then specifying that illegal transactions were the main area of its ​​application.

"I do not understand their meaning. It is clear why bitcoin was needed: someone wanted to do something illegal in the Internet. Why gold is needed is also understandable: it's a safe heaven in case of world financial system instability."

A similar opinion is shared by many investors and top managers of the traditional financial system. The latest negative statements about bitcoin was voiced out by venture fund Citadel’s CEO Ken Griffin. In his opinion, cryptocurrency has little prospects for development.

“You have to have US dollars to pay your taxes. You don’t have a choice.”

According to Griffin, cryptocurrency is needed by those who are looking for problems. “There is no need for cryptocurrencies,” concluded Griffin in a conversation with CNBC.

According to him, cryptocurrencies can not succeed, as long as there is an obligatory alternative, national fiat money.