Cyber money venture capitalist, CryptoOracle partner Lou Kerner suggested viewing bitcoin as a survivor like Amazon after 1995-2000 dot-com bubble. He believes that BTC is a great store of value and good $8 trillion worth gold system. For that, however, crypto-investors need to «hodl».
Bitcoin's Like Amazon
In a recent conversation with CNBC journalists, BTC supporter Lou Kerner complied there might be similarities between the most valuable cyber-coin in the world and e-commerce giant Amazon. The latter was down over 95% for two years when the dot-com bubble collapsed and now it is one of the most known companies in the world.
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Kerner drew a parallel between BTC and the American company amid the correction on the cyber asset market where the «big daddy» lost 16% of its value in one day and is currently trading at $4,467.
Indeed, Amazon survived. In 1997 its share cost $18 when it just went public. A year later its stock surged to $300. But after the collapse of the dot-com bubble four years later Amazon’s share was worth $6. This year fall Amazon became the 2nd American business to dim out a stock market value of over $1 trillion.
Kerner believes Amazon’s example is what BTC investors need to learn from. The venture capitalist even underscored that this kind of volatility is almost nothing to what virtual assets investors have to brace for. Kerner recalled 2013 when bitcoin went down by 70% in a day, but it’s all what digital assets are about, according to him.
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