Cryptocurrencies could be 'just mining the public:' gold mining CEO
Sean Boyd
Cryptocurrencies like bitcoin may be all the rage  but when it comes to storing your money   Agnico Eagle Mines CEO Sean Boyd  told CNBC that they still pose some unaddressed risks.
"One of the things about bitcoin and the cryptocurrencies is  is there really an unlimited supply?"  Boyd  said to "Mad Money" host Jim Cramer on Thursday. "We're gold miners. We mine deposits. I think  over time  the question will be: are these cryptocurrencies and the developers of these cryptocurrencies just mining the public? "
 The CEO  said that more and more investors who meet with Agnico on a regular basis are once again warming up to gold and could have a hand in driving it higher.
"Our sense is that investors are starting to do their homework  revisiting the high-quality gold equities  so there is a sense that gold's about to turn here "  Boyd  said. "We wouldn't be surprised to see gold between $1 400 and $1 500 within the next 18 months or so."
With a strong gold mining business in Mexico and healthy "geological upside" ahead   Boyd  told Cramer that  he  and  his  colleagues at Agnico predict that production could increase by 25 percent between now and 2020.
And for investors seeking stable investments to manage potential risk  few are better than gold â especially not cryptocurrencies   the CEO  said.
"Gold's a highly developed market  very liquid market  a very efficient store of value and portfolio diversifier. That's why you need to own it "  he  said. "It's proven itself. It's hard to believe it's going away just because of technology. People can invest in cryptocurrencies  but now's the time to own gold. If [the] stock market's setting record levels  I'd rather own gold than bitcoin."
Cryptocurrencies like bitcoin may be all the rage  but when it comes to storing your money    [TGT] told CNBC that they still pose some unaddressed risks.
"One of the things about bitcoin and the cryptocurrencies is  is there really an unlimited supply?"   [TGT] said to "Mad Money" host Jim Cramer on Thursday. "We're gold miners. We mine deposits. I think  over time  the question will be: are these cryptocurrencies and the developers of these cryptocurrencies just mining the public? "
 The CEO  said that more and more investors who meet with Agnico on a regular basis are once again warming up to gold and could have a hand in driving it higher.
"Our sense is that investors are starting to do their homework  revisiting the high-quality gold equities  so there is a sense that gold's about to turn here  [TGT] said. "We wouldn't be surprised to see gold between $1 400 and $1 500 within the next 18 months or so."
With a strong gold mining business in Mexico and healthy "geological upside" ahead    [TGT] told Cramer that  he  and  his  colleagues at Agnico predict that production could increase by 25 percent between now and 2020.
And for investors seeking stable investments to manage potential risk  few are better than gold â especially not cryptocurrencies   the CEO  said.
"Gold's a highly developed market  very liquid market  a very efficient store of value and portfolio diversifier. That's why you need to own it "  he  said. "It's proven itself. It's hard to believe it's going away just because of technology. People can invest in cryptocurrencies  but now's the time to own gold. If [the] stock market's setting record levels  I'd rather own gold than bitcoin."