Bitcoin Analyst Predicts a Legacy Comparable to the NASDAQ for BTC
CryptoNewsTerminal Staff22 Jul, 2024
Bitcoin Analyst Predicts a Legacy Comparable to the NASDAQ for BTC
Crypto market analyst Jamie Coutts of Bloomberg Intelligence compared the nascent crypto market to the early 1980s stock market in an interview with X. Coutts said, "For millennials, 2009 is like 1982. The Nasdaq wasn't taken seriously as an investable asset class until the mid- to late-1990s, after its 1970s launch. It has since then outperformed every other asset class ever created. Bitcoin, born in 2009, has also been ridiculed in its first decade but is poised to attract more funds as it enters the mainstream." Coutts went on to state that he believes BTC is a low-risk, inflation hedge and should not be placed in the same risk bucket as other cryptocurrencies.