Pepper International CEO Makes Comparison Between Bitcoin & Cannabis

Pepper International is a family office and consulting company based in New York City with Carol Pepper at the helm. The CEO of the firm recently spoke to CNBC’s Squawk Box Europe and made a comparison between Bitcoin and Cannabis.

In addition to being the CEO of Pepper International, she is also a wealth advisor for families. According to her, Cannabis stocks are the next industry which is going to see some major growth seen as the staggering possibilities for medicinal use. Pepper said, "If you want to be in something that's very growthy, and actually legitimate as it is legalized and controlled properly, I think this is the place to go."

The New York Stock Exchange and Nasdaq both listed cannabis firms in 2018 when Canopy Growth and the Cronos Group went public on the indexes. The two companies are both based in Canada where recreational marijuana is now legal. The stock in Canopy Growth has seen more than 65 percent gains over the past year and during the same time, Cronos saw a 115 percent increase.

Because of the legalisation of Cannabis in Canada, Pepper said that it has "blown through expectations" and the success of it had got to the point where companies based there were now exporting goods into Europe.

Pepper said, "the medical applications for cannabis are staggering. The research is being done and I really think this is next huge growth area.” In addition to this, she noted evidence of the drug’s efficacy in the treatment of arthritis and epilepsy.

It was suggested to Pepper that cannabis stocks would reflect the Bitcoin craze that saw altcoins and other cryptocurrencies prices surge up to $20,000 but she denied this. Furthermore, she said that cannabis is a physical product with defined benefits.

"I think it is a phenomenal plant that is going to a lot of good for the planet and I'm glad it is finally being legalized."

Ten US states and the District of Columbia have made the drug legal even though federal laws ban it.

Pepper predicted that big US tobacco and drink firms will take control of the space following the removal of the legal prohibition is removed across the globe.

To end, Pepper said, "if you are going to do EUGMP standard cannabis, which means it can come into Europe, you are going to have to be able to control the level of the various chemicals in the plant."