Thursday, December 14, 2017

Why the Bitcoin Price is Like the Television Show 'Seinfeld'

Murray Sabrin tells me the Bitcoin price is like the television show "Seinfeld."

"They are both based on nothing," he tells me.

The Lindsey Group's Peter Boockvar backs  Murray up. This morning on CNBC he said that the bitcoin boom is a classic mania that will ultimately inflict a lot of pain. He calls it a "gigantic price chase based on nothing."

The below Boockvar analysis is very good.

Boockvar, a CNBC contributor, is more comfortable investing in an asset that's thousands of years old versus one that's only 10.

"If bitcoin is being perceived as this alternative currency, where gold is one as well, ... I would not be surprised when the day comes when bitcoin falls. Maybe that's when gold eventually rallies," he said. "It's much more difficult getting gold out of the ground than having a laptop and creating some new cryptocurrency."



  1. Seinfeld and Bitcoin are useful enough. That use is called value. Each is far enough away from being nothing as to be useful to a lot of people.

  2. He may own futures shorts and is trying to make dollars but talking down the price.