Bitcoin BTC=BTSP is in a bubble and its fair value should be around $100, or about 99 percent below the current level, Katsunori Sago, chief investment officer of Japan Post Bank (7182.T) said on Thursday.
Sago noted that blockchain is a great technology and one day bitcoin could become a major means of settlement.“But that will be years away, possibly more than a decade — so there’s no need to buy bitcoin now. Since no one knows when the bubble will burst, the best thing to do here is to stay away from it,” he said.
Eulogy made by Katsunori Sago
