Bitcoin economist Saifedean Ammous says that nothing has ever risen as fast and as much as Bitcoin price – which makes it ‘incomparable’ even to the most successful companies and innovators.
‘Bitcoin is a Completely New Animal’
Bitcoin economist and author of The Bitcoin Standard, Saifedean Ammous, recently shared his views on whether the world’s most popular cryptocurrency can be compared to history’s famous bubbles.
Paul Krugman, Jamie Dimon, Warren Buffet and other critics often refer to Bitcoin as a ‘bubble,’ particularly as BTC/USD price has dropped from nearly $20,000 in December 2017 to around $4,000 today.
But comparing it to historic stock market crashes is comparing apples and oranges, argues Ammous.
“Bitcoin is a completely new animal, different from all before it,” he says.
Your old toolbox for analyzing bubbles, currencies, and stocks doesn’t work on [Bitcoin].
It is these outdated tools that prevented the likes of Buffet from missing out on one of the best investment opportunities in…