The founder of an investment company that focuses on virtual currencies, BKCM LLC, Brian Kelly, has likened investing in Bitcoin to the internet in the 1980’s and the early days of Microsoft or Apple Inc. Back then, not so many people believed in them. But eventually, they become massive forces that have shaped the world. Speaking to CNBC, Kelly said:
“Don’t you wish you invested in Apple when it was $5 a share? Don’t you wish you invested in Microsoft when it was $5 a share? Well, Bitcoin is the next Apple or Microsoft”
Concerning the early internet days, Kelly was quick to note that:
“We’re early-stage tech in this so you have to remember this is like the internet in the 1980s. I used to think this was the internet in ’95 but, after the last couple months of talking to folks, I think we’re more like the 1980s. I think this technology’s going to work. It’s going to be game-changing, but it’s very early days so we can have this massive volatility.”
And to put everything into perspective, Kelly, who is also the author of ‘The Bitcoin Big Bang- How alternative currencies are about to change the world’, said that investing in Bitcoin and the blockchain technology can be compared to CISCO, a company that manufactures routers, developing internet protocols etc. With CISCO you are be dealing with a company but with Bitcoin and its technology, you will be dealing with an open source software.
Brian was quick to add that the best times for investing in Bitcoin or any other thing, is when its prices are low.
“So right now we’re having articles from Barclay’s calling it a virus. Saying stuff like it will never hit a high again. That’s when I want to buy any asset, whether it’s Bitcoin or not”
Regarding the low prices that the coin has been struggling with for the past few months, Brian echoed other industry experts who are optimistic that the prices will start looking up from now on. For Kelly, Bitcoin cannot go any further down as “It looks like we’ve bottomed here.” with the only option left is for it to move upwards.
Is Bitcoin and its technology (blockchain) on their way to revolutionize the financial world?
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