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Podcast: Hedgeye Podcasts
Episode: Ep 38 - Real Conversations: Josh Crumb - Bitcoin Boom or Bust?
Description: 1. ARE INVESTORS GETTING AHEAD OF THEMSELVES?
The cumulative proceeds from Initial Coin Offerings (ICO) – the cryptocurrency equivalent of a stock’s Initial Public Offering – have reached $3.8 billion, according to Coindesk. Are investors getting ahead of themselves in all these new ICOs?
“Probably,” Crumb says. “Just like the dot-com bubble, most of them will return to their intrinsic value, which is 0.”
But that’s the point. Bitcoin is “one of the most perfect medium of exchanges we’ve ever had,” Crumb says.
“Just like we had no idea what the Internet was going to do, but we knew it was important, this wave of cryptocurre...