BITCOIN IS THE NEXT TUMBLR
Now we are seeing it with bitcoin. That’s right. The Tumblr disaster is absolutely analogous to bitcoin.
Ed Butowsky, managing partner at Chapwood Capital Investment Management, tells CCN that the Tumblr situation (as well as all the other similar examples) deliver a fundamental investment tenet:
“Even the smartest dealmakers in the world have been fooled by hype, and overestimated an asset’s true value. Bitcoin will end up virtually worthless, just like Tumblr, because its true value is next to nothing.”
Eulogy made by Lawrence Meyers