Brian Kelly Compares Cryptocurrencies with The ‘Internet In The 1980s’
April 16, 2018 11:34 am
Bitcoin Is Like The ‘Internet In The 1980s’, says Brian Kelly
While asked about the possibilities of Bitcoin, Kelly replied that he used to see crypto as compared with the Internet in 1995, he now thinks that a better connection is further back.
Mr. Kelly told:
“I think this technology is going to work, it is going to be game-changing, but it’s very early days so that we can have this massive volatility.”
Kelly matches Bitcoin with early Internet firms such as Cisco and Microsoft, comparing Bitcoin with Cisco’s router and Internet protocols. Anyhow, Kelly stresses out it is not right to think of Bitcoin as a company or a stock.
“This is an open source software, you cannot consider it as a company, and that is where people make their mistake […] This isn’t a stock, this is not a company.”
Kelly also notes the recent report by analysts at Barclays which referred to cryptocurrency as a “virus” and an infectious disease which would “never hit another high again.” Kelly remarks that the time right after such negative articles is published when he “wanted to buy any asset, whether it’s Bitcoin or not.”
Recently, Tim Draper predicted Bitcoin price to hit $250,000 in 4 years.