2017

“Bitcoin is a bubble, no plans to short-sell: Japan Post Bank CIO – Reuters” | $7,058.75

By Alexander Reed

Last Updated: Dec 26, 2024

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bitcoin obituary
Disclaimer Icon
Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

Bitcoin BTC=BTSP is in a bubble and its fair value should be around $100, or about 99 percent below the current level, Katsunori Sago, chief investment officer of Japan Post Bank (7182.T) said on Thursday.

Sago noted that blockchain is a great technology and one day bitcoin could become a major means of settlement.
“But that will be years away, possibly more than a decade — so there’s no need to buy bitcoin now. Since no one knows when the bubble will burst, the best thing to do here is to stay away from it,” he said.

Eulogy made by Katsunori Sago

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Alexander Reed
Alexander Reed
Editor

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including... Read More

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