Bitcoiners don’t fear overvaluation the way stock traders do, says Bitwise Invest's CEO, after Bitcoin reached new all-time highs this week.
Bitcoin hit new all-time highs this week and isn’t triggering overvaluation concerns among investors the way stocks typically do, suggests a crypto exec.
“Bitcoin is different,” asset manager Bitwise Invest CEO Hunter Horsley opined in a Nov. 9 X post, explaining that when a company’s stock “goes up, the multiple does up,” which essentially measures the company’s valuation and an element of its financial performance.
For stocks, “at a certain point, people say, “this is overvalued” and become less interested until the price goes down,” Horsley explained.
