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Bitwise CEO: The rise in Bitcoin prices will not trigger concerns similar to overvaluation of stocks

Bitwise CEO: The rise in Bitcoin prices will not trigger concerns similar to overvaluation of stocks

Bitget2024/11/10 04:35

Bitwise Invest CEO Hunter Horsley stated that Bitcoin reached a historic high this week, but it did not trigger investor concerns about overvaluation like stocks. "Bitcoin is different," he explained, when a company's stock "rises, the price-earnings ratio also rises. At some point, people will say 'this is overvalued,' and then they become less interested until the price drops." Horsley added that without similar financial performance indicators, "when the price of Bitcoin rises, people think it is more likely to succeed and therefore becomes more valuable, so it is very likely to rise further."

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