Aaron Lasher has sensationally claimed that bitcoin is in a bubble and that one time the bubble will burst. Aaron is the co-founder and CMO of Breadwallet, a cryptocurrency wallet for both desktop and mobile users. He made the comment at a time when the bitcoin value is appreciating amazingly fast.
“Are cryptos in a bubble? Yes, absolutely,” Lasher said. “Is that a bad thing? Not necessarily.”
Many skeptics have been of the opinion that bitcoin, and by extension cryptocurrencies, are all in a bubble, and there’s artificial inflation going on so that enough people may climb aboard, and then bam, the bubble bursts. However, contrary to predictions of skeptics, bitcoin value has appreciated consistently, and there are no signs that its about to stop.
Aaron Lasher further said that in the next ten years, the total market cap for bitcoin will be in excess of 5 Trillion dollars! In that scenario, one bitcoin will be worth nearly $300000! Bitcoin market cap at the time of writing this is around 170 Billion dollars.
For a man with an undisclosed amount of bitcoins hidden away in a hardware wallet, the runaway price gain must be exciting him. Asked whether he’d consider selling them off when the price becomes “too good” Aaron said he’d wouldn’t.
Another high profile investor who considers cryptocurrencies a bubble is Warren Buffet. He said that no one should take cryptocurrencies seriously and that all of them are just but a passing fad. But Warren Buffet may be biased because he’s believed to be sort of anti-technology.