Is Bitcoin a Bubble?
The November 2017 Edition
In the past five years, the price of Bitcoin has risen from $10 to $6,000. That’s a 600x increase in price. If you invested $1,000, you now have $600,000. There haven’t been many other investment opportunities that have delivered similar returns. With just a quick glance at the chart below, it’s easy to understand why so many are asking themselves, “is bitcoin a bubble?”
In 2012, when I first learned about Bitcoin, I thought it was too risky to buy. I thought there was a very high probability that it would completely collapse. The idea of an open-source technology currency seemed too outlandish to me.
However, with each year that’s passed where bitcoin has not only not collapsed, but actually increased in price, my sentiment has changed. I became more open to the idea that bitcoin had the potential to change the world, and significantly increase in price along the way.
In an effort to remain open-minded and unbiased, I sought out arguments from investors and technologists on both sides of the now heated debate about bitcoin’s future. I found a wide range of perspectives.
