American tech billionaire Joel Bomgar: Why is BTC not a bubble? Because the growth curves of the two have essential differences.American tech tycoon Joel Bomgar, in his speech at FreedomFest 2024 last year, explained in detail why Bitcoin is not a bubble. He stated, "Historically, there has never been a bubble that produced such a curve, and all assets that ultimately changed the world have drawn such a curve."
Bomgar points out: All classic bubbles, whether it is the Dutch tulip, real estate, or the internet bubble, share three characteristics:
- Single Cycle
- Brief Prosperity
- Ultimately return to zero or revert to the original point
But Bitcoin has never taken such a route. Reviewing its price history on a logarithmic scale, it rose from 5 cents to $69,000, then retraced to $15,000. Joel emphasized: each drop is tens of times the previous low, completely diverging from the logic of a bubble, and instead resembling Apple, Amazon, Netflix.
PANews·2025-11-27 07:37