“This Is What Could Pop the Bitcoin Bubble” – Bloomberg | $9,972.67

Maria Martinez
Author
Last updated on:
Fact Checker

It’s been a puzzle to explain why bitcoin’s gone parabolic. Why would we expect the way down to be any different?

The practical applications for cryptocurrencies to facilitate legal commerce appear hampered by relatively expensive transaction fees and the high energy costs associated with mining at this juncture. On this note, Nobel Prize-winning economist Joseph Stiglitz said that bitcoin “ought to be outlawed” because “it doesn’t serve any socially useful function.”

Former Fed Chairman Alan Greenspan has said that “you have to really stretch your imagination to infer what the intrinsic value of bitcoin is,” calling the cryptocurrency a “bubble.”

Perhaps it could end like the dot-com bubble — with investors who have no clue how to value high-flying assets fleeing for the exit en masse.

Eulogy made by Joseph Stiglitz, Alan Greenspan

Source

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.
Maria Martinez
Maria Martinez

Maria Martinez is an esteemed blockchain enthusiast who has spent many years as a writer specializing in cryptocurrency and blockchain technology. With over a decade of experience navigating the complexities of this niche, Maria brings a meticulous eye for detail... Read More

Free Bitcoin Crash Course

Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service
We hate spam as much as you do. You can unsubscribe with one click.