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A value investor's take on the meteoric rise of bitcoin

  • George Athanassakos
  • |
  • Dec 20, 2017
A value investor's take on the meteoric rise of bitcoin

Value investing expert, George Athanassakos, is sending a stern warning about bitcoin. Comparing it to the dot.com era of the 2000s, he says bitcoin's bubble will inevitably pop.

In an op-ed in The Globe and Mail, Athanassakos says sooner or later bitcoin traders will have to ask themselves two questions: First, what is the value of a bitcoin? And second, what does it give you a right to?

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“As Keynes used to say, the markets can stay irrational longer than one can remain solvent. What is happening to bitcoins is not rational – how can it be when bitcoins cannot be valued. As there is no way to value bitcoins, there is nothing to guide or help a buyer or seller make rational decisions.”