Everyone and their dog has an opinion on Bitcoin these days. With the price surging to new heights, that is only to be expected. Carl Icahn isn’t happy about this development, nor does he think Bitcoin has a bright future ahead. In fact, he makes another comparison to a bubble waiting to burst. These financial experts have a lot of difficulties getting with the new era of money, by the look of things.
We have seen a lot of different opinions regarding the Bitcoin price. People who got rich off the back of others seem to think this is a clear bubble. Everyone else thinks this is one of the best investment vehicles of this generation. Who is right and wrong, has yet to be determined. If it’s left up to Carl Icahn, Bitcoin will burst sooner than people think. His reference to a Mississippi bubble will not sit well with most Bitcoin enthusiasts, though.
Carl Icahn Makes Another Bubble Comparison
There is a very real chance Bitcoin is indeed in a bubble. Although not a popular opinion, one has to entertain all possibilities in this regard. A lot of money has poured into cryptocurrency out of the blue. Major gains are scrutinized because it is seemingly too good to be true. Carl Icahn feels the same way, and he is concerned, this bubble will burst soon. This comment is made while acknowledging he has no clue about Bitcoin’s technology. Statements should never be taken at face value, that much is evident.
At the same time, there is a chance Carl Icahn is absolutely right. His comparison to the Mississippi bubble is a bit of strange one. Then again, it does illustrate a point. Money can come in but it can evaporate even quicker. If that were to be the case with Bitcoin, things would end pretty badly Many people put in far more money than they can afford to lose. Then again, all previous bubbles to date were facilitated through bank-issued currency and investment vehicles. Bitcoin is completely different and may buck this trend.
No one can deny the Bitcoin price is growing at an accelerated pace. Good things will eventually come to an end, even in the cryptocurrency sector. A lot of new millionaires have been created. Once people start cashing out en masse, we may see a massive price correction. Until that happens, however, any comparison to a bubble is unfounded. It is easy to make the comparison, but there has never been anything like Bitcoin. How things will play out, remains to be seen.
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