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Wednesday, September 6, 2017

What is Bitcoin, “Bubble Territory” or “New Gold”?

What is Bitcoin, “Bubble Territory” or “New Gold”?

Jean Pierre Verster, who is well known for predicting the African Bank’s collapse, and is a portfolio manager at Fairtree Capital in South Africa, has come out in support of many who believe the latest rise in Bitcoin price is an indication of a bubble.

The portfolio manager has said that Bitcoin is in bubble territory and that he will not be investing in it.

In differentiating the value of Bitcoin compared to its founding technology, Vester has said the digital currency is a ‘false truth while the Blockchain technology on which it is built is a ‘true truth.’

Verster is one in a long line of investors that have said they will not be investing in digital currencies, for a raft of different reasons. But it is clear that the portfolio manager still sees the value in Blockchain technology, but adds that Bitcoin is not a wise investment right now.


Full story at http://bit.ly/2f2BRHl


Source: CoinTelegraph


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