Brian Kelly: Bitcoin is the Internet in 1995, and in the 1980s
Brian Kelly, a regular commentator of the programme of CNBC's Fast Money and founder of the hedge Fund BKCM, speaking on CNBC on April 13, compare crypto currencies with "Internet in the 1980s", stressing that bitcoin is still at an early stage of development.
Commenting on the potential of bitcoin, Kelly noticed that although in the past, he drew Parallels between this digital currency and the Internet as of 1995, and now he realizes that was wrong with the time limits:
I think that this technology will be effective, it is a game changer, but is still at an early stage of development, which explains the high volatility of cryptocurrency.
Kelly mentioned Cisco and Microsoft, in particular, the Cisco router and Internet protocols. He stressed that it is wrong to compare the bitcoin with the company or in securities:
This is not software is open source, and not the company, as erroneously believed by many. Bitcoin not refers to categories of securities.
Analyst at Fundstrat Tom Lee recently explained the fall of bitcoin prices that American taxpayers sell scriptactive ahead of the deadline for taxes, April 17. Kelly agreed with the findings of Lee, adding: "After April 17, we will see whether to keep the current position".
Kelly also mentioned a recent report from analysts at Barclays, who called bitcoin "virus" is the currency that "never again reaches the heights." Kelly noticed that after such negative articles he had "a desire to purchase any asset, not just bitcoin".
On Friday, April 13, Kelly said in another interview that he shared the point of view of investor Tim Draper, who believes that by 2020, the rate of bitcoin will reach $250 000.