Is Bitcoin a fast money? An investment debate

Andrew Left and Tom Lee, one being an opponent of Bitcoin usage and Tom Lee, who, contrariwise, supports cryptocurrency, have met on the Fast Money TV program (CNBC).

Mr. Left once again repeated one of the classic theses cryptocurrency critics use: Bitcoin is overestimated, it’s doomed to fall. Its price does not correspond with its real value, Andrew Left believes. He is a member of Citron Research.

Mr. Lee believes differently: Bitcoin will not fall, it will go up to 25,000 U.S. dollars in the next 5 years and maybe even higher. When it comes to the Bitcoin Investment Trust, which Andrew Left does not consider a good investment, Thomas Lee thinks this is an “attractive buy”. The latter is a member of Fundstrat Global Advisors.

This notion about $25,000 was irresponsible, Left replied and stated that Lee must give investors false dreams of quick wealth, as “we don’t know what Bitcoin is right now”.

                                    Screen from Fast Money, all rights belong to CNBC

Interestingly enough, Lee, being a cryptocurrency supporter, worked a JP Morgan Chase. The current chief executive of this company, Jamie Dimon, has become infamous in the cryptocurrency community for his extremely anti-bitcoin statements.

The final decision about investments is always made by investors, and everybody can do whatever the inner intuition tells them to do. However, the position of Andrew Left seems more reasonable for those people who don’t have enough money to make risky investments and stay wealthy even in case the investment falls.