Financial theorist and neurologist William Bernstein said he does not agree with the idea that Bitcoin is a classic bubble. Bernstein, however, stated that he did not think he would spend more time on Bitcoin.
The American neurologist began to write about investment from the 1990s. Some of his most popular books are; The Intelligent Asset Allocator, The Four Pillars of Investing: Lessons for Building a Winning Portfolio and Rational Expectations: Asset Allocation for Investing Adulst…
Bernstein said that Bitcoin and digital currencies, although not bubbles, have suspicious traces.
Speaking to CNBC, Bernstein explained why Bitcoin did not match its bubble characteristics with the following 3 items:
– It did not become the main topic of social gatherings.
-People don’t quit for Bitcoin.
-Those who are skeptical of digital currencies are not met with anger.
The famous author concluded:
“Bitcoin, waste my time It’s not something I want. If you are not an expert in Blockchain or Bitcoin, stay away. Don’t invest in things you don’t understand.”