CNBC’s Fast money programme featured Andrew Left, a well known Bitcoin short seller and Tom Lee a Bitcoin enthusiast battling it out on whether Bitcoin was a good investment or an option far to risky to consider.
Although it could be argued that here at The Block Crypt we are slightly biased in our opinion towards Bitcoin, but nevertheless Tom Lee’s arguments are far more valid than Bitcoin naysayer Andrew Left.
The very fact that Left claims Bitcoin’s value is currently over valued and needs to drop back down to it’s true underlying value is all you need to hear from this gentleman. Bitcoin, actually is severely undervalued, supply is miniscule, demand is growing, cost of production and keeping the network running are increasing. The only thing which can give is the value of bitcoin, it has to rise if adoption is to increase, simple math my dear watson.
Anyway, here’s the excerpt from CNBC’s Fast Money programme: