If you’re not very confident in global stability you should be long on Bitcoin says tech mogul Geoff Lewis. He says blockchain the technology continues to be somewhat overhyped, but at this point, he thinks bitcoins are probably relatively underhyped.
Geoff Lewis, the founder of Bedrock Capital and an early tech investor in many companies including Lyft, recently discussed the future of Bitcoin and more on CNBC:
Blockchain the Technology is Overhyped
With blockchain, you’ve got to distinguish between blockchain the technology and then the currencies themselves. Blockchain the technology continues to be somewhat overhyped.
There just are lots of scalability challenges to be figured out there. On the currency side, I would say at this time last year it’s extraordinarily overhyped.
Bitcoins Are Probably Relatively Underhyped
I remember around this time last year I had an electrician in my house and he was telling me about how to become a Bitcoin millionaire. Bitcoin was around $20,000 and he was a Bitcoin multi-millionaire. At this point, I think bitcoins are probably relatively underhyped.
If you think a year ago versus today, I personally have less confidence in global governments, less confidence that we’re going to be in a stable long-term global future. If you’re not very confident in global stability you should be long on Bitcoin.
