A Foolish Take: A Contrarian View of Bitcoin
The rapid rise in the price of bitcoin this year has caused financiers to issue warnings that it may be in bubble territory. That list includes Warren Buffett, Jamie Dimon, Howard Marks, Jack Bogle, and any number of other respected investors with outstanding track records.
In fact, it's kind of hard to argue otherwise. Bitcoin is like a tulip; it doesn't generate value. If you buy a stock, you're buying a portion of the underlying company's earnings. If you buy a bond, you're promised interest payments. If you buy real estate, you get land that you can rent.
This suggests that the growth in bitcoin prices this year must be speculative, as there's no underlying value that's being generated to justify the rise.
Source: Fool.com
