That difference of opinion may partly be explained by understanding what
type of asset bubble bitcoin could be.
Not exact matches
Bubble -
type prosperity is based on debt - leveraged
asset - price gains at the expense
of the economy at large.
Thanks to Mackay's vivid account, tulips are a well - known cautionary tale, applied to
asset bubbles of all
types; here's the problem, though: there's a decent chance Mackay's account is completely wrong.
In a sort
of mirror image
of the 1999 Dot - Com
bubble, when investors overpaid for high risk, non-yielding stocks, the market today is characterized by eye - popping valuations for «safe»
assets from bonds
of all
types to the most conservative sectors
of the stock market.
Despite the fears
of many experts about the formation
of a
bubble in the market
of cryptocurrencies, Russians do not intend to reduce their investments in this
type of asset.