Cryptocurrency expert, Brian Kelly, who is the founder and CEO of BKCM LLC has said that he does not believe that people should think of Bitcoin as a company; a mistake he believes that many investors make, and instead likens it to the ‘internet in the 1980s’, emphasising that the cryptocurrency is not stock. He said;
“You can’t think of it as a company right and I think that is where people make a mistake…this is not stock, it’s not a company, it’s open source software…We’re early stage tech in this so you have to remember this is like the internet in the 1980s. I used to think it was like the internet in 1995. But after the last couple of months talking to folks, I think we’re more like the 1980s.”
He believes Bitcoin to be a game changer though, and is not concerned about the price volatility, as he simply puts this down to the fact that it is still early days in retrospect. He said;
“So you know I think this technology is going to work it’s going to be game-changing. But it’s very early days so we can make this massive volatility. It’s Cisco, we’re at the age of Cisco and Microsoft. With Cisco you’re talking about routers and you’re talking about internet protocols so this is an open source software.”
Bitcoin appears to making a bit of a price recovery at the moment, with the value over $8,000 for the first time in a few weeks, adding nearly $1,500 to its value in just one week. Although this is great news for the cryptocurrency, which has suffered a huge loss over this year, the number one virtual currency has still seen a fall in price over all.