Bitcoin is the perfect asset for speculation, and it is thanks to them that we see it rise. This is what Insider co-founder Henry Blodget said on CNBC’s orders.
He believes that the first cryptocurrency has no intrinsic value. This is because its price depends on how much they are willing to pay for it.
In his view, it is the investor craving for bitcoin that increases its price.
Blodget highlights that, unlike stocks, bitcoin was not linked to future asset-generated cash flows.
Finally, the businessman adds that he first wants to see something bigger in the cryptocurrency than a speculative asset. For example, the ability to completely convert to a bitcoin payment or to perform all cross-border bitcoin transactions.
Yevgeny Kogan previously points out that traditional models of forecasting future profits do not work for cryptocurrency investments.
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