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Bitcoin must cost 10X more with 10X less utility to match tulip mania — Investor

Published 02/15/2021, 08:30 AM
Updated 02/15/2021, 10:40 PM
Bitcoin must cost 10X more with 10X less utility to match tulip mania — Investor

Bitcoin (BTC) and cryptocurrencies look nothing like the tulip mania of the 17th century, even after their rapid gains, one macro investor says.

In a tweet on Monday, Dan Tapeiro, co-founder of 10T Holdings, argued that in terms of price relative to average income, Bitcoin and Ether (ETH) still have a long way to go before challenging tulips.

Bitcoin vs. tulip mania and other bubbles. Source: James Todaro/Blocktown Capital
Bitcoin inflation, stock-to-flow ratio and BTC/USD. Source: Woobull.com

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