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Why Crytos Are Gambling Chips, Not Money, Not An “Asset Class”

Summary:
Bitcoin, the first cryptocurrency, was introduced 12 years ago. The first commercial transaction using bitcoin took place in 2010 when bitcoin enthusiast, Laszlo Hanyecz, purchased two pizzas for 10,000 bitcoins. At today’s prices those pies were worth over 0 million. https://www.advisorperspectives.com/articles/2021/10/06/when-you-buy-cryptocurrency-you-own-nothing?utm_source=boomtrain&utm_medium=email&utm_campaign&utm_content&utm_term&bt_ee=nvc%2BXrFBh8Wn%2F4OgNSrxX2kyetLbcP%2BKNX4Rh0XLT1IceS5ZVdXfp18TlhdjKbDk&bt_ts=1634119295532

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Bitcoin, the first cryptocurrency, was introduced 12 years ago. The first commercial transaction using bitcoin took place in 2010 when bitcoin enthusiast, Laszlo Hanyecz, purchased two pizzas for 10,000 bitcoins. At today’s prices those pies were worth over $400 million.

https://www.advisorperspectives.com/articles/2021/10/06/when-you-buy-cryptocurrency-you-own-nothing?utm_source=boomtrain&utm_medium=email&utm_campaign&utm_content&utm_term&bt_ee=nvc%2BXrFBh8Wn%2F4OgNSrxX2kyetLbcP%2BKNX4Rh0XLT1IceS5ZVdXfp18TlhdjKbDk&bt_ts=1634119295532

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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