Brian Kelly compared bitcoin to the Internet of the 80s

Founder and CEO of investment company BKCM LLC Brian Kelly on CNBC broadcast compared crypto-currencies to "Internet in the 1980s", stressing that bitcoin is still in the early stages of its development.

Speaking about the potential of bitcoin, Kelly stressed that he used to compare crypto-currencies with the Internet as he was in 1995, but over time he realized that the reference should be made to a much earlier stage.

"I think that this technology will work, it is unique in its kind, but it is still at the very beginning, so we can observe such a huge volatility," he said.

Kelly compares bitcoin with Internet companies, such as Cisco and Microsoft, at the stage of their formation, where bitcoin could play the role of a router or an Internet protocol. At the same time, he emphasizes that the classification of bitcoin as a securities or a company is incorrect: "This is open source software. You can not treat it as a company. Many people make such a mistake, but this is not an securities and it is not a company. "

Earlier, Fundstrat analyst Tom Lee suggested that the depreciation of bitcoin at the beginning of this year could be caused by the approaching tax filing period in the US. Kelly said that he agrees with Lee, adding: "Probably, we will find out after April 17, whether we will be able to maintain these positions."

The expert also mentioned the recent report of Barclays, whose employees compare bitcoin with an infectious disease. Kelly noted that it was after such negative articles that he "wanted to buy an asset, be it bitcoin or not."

On Friday, Kelly said, he supports Tim Draper, who expects the bitcoin rate to reach $ 250,000 by the end of 2022.

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