HALF OF REMAINING UNMINED BITCOIN ‘ALREADY SPOKEN FOR’ – COINSHARES CEO
UK cryptocurrency investment products and research firm CoinShares’ has called for Bitcoin to get a “new narrative” to drive consumer interest and lift prices to new highs.
In a series of tweets and a Medium post August 17, CEO Ryan Radloff explained how Bitcoin could follow in the footsteps of companies such as Amazon and Microsoft, whose shares deflated in the year 2000 then exploded to new heights over a long period. “So why did companies that are so clearly viable in hindsight, take so long to reclaim their high valuations from Y2K?” he asked. …Because they needed a new narrative… When you come down from great heights, the ‘growth story’ is harder to see… and most people then (and now) are investing in the (future) growth story. Radloff referenced CoinShares’ CSO Meltem Demirors, who last week had used the Amazon-Microsoft analogy when defending Bitcoin’s prospects to mainstream media. “Price is an imperfect metric,” she had told CNBC.