As reported by PANews, U.S. tech billionaire Joel Bomgar explained in his FreedomFest 2024 speech why Bitcoin is not a bubble. He stated that no historical bubble has followed the same growth curve as BTC, and all world-changing assets have drawn similar patterns. Bomgar noted that classic bubbles—such as tulip mania, real estate, and the dot-com bubble—share three traits: a single cycle, short-lived booms, and eventual collapse. Bitcoin, however, has never followed this trajectory. By reviewing BTC's price history on a logarithmic scale—from 5 cents to $69,000, then to $15,000—Bomgar emphasized that each decline is still orders of magnitude higher than the previous low, diverging from bubble logic. He compared BTC's pattern to long-term growth curves of companies like Apple, Amazon, and Netflix, or even gold. Bomgar attributed BTC's value to three factors: borderless, predictable, and scarce.
U.S. Tech Billionaire Joel Bomgar Explains Why BTC Is Not a Bubble
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