„Warren Buffett, a wealthy American investor, has called bitcoin ‚rat poison‘. Jamie Dimon, the boss of JPMorgan—the sort of financial institution that bitcoin fans dislike—has described it as ‚a fraud‘. A research note from Goldman Sachs, a bank, published in July, describes cryptocurrencies as ‚a mania‘ and concludes that they ‚garner far more…attention than is warranted‘. Still, back in May the same bank announced its intention to open a cryptocurrency trading desk, citing demand from its customers. Autonomous Next, a financial-research firm, reckons that 175 cryptocurrency funds were set up in 2017, up from just 20 the year before.
Goldman Sachs argues that bitcoin remains overvalued. But for every bear there is a bull. Tim Draper, a venture capitalist who made his fortune backing technology companies, has forecast that by 2022 a bitcoin will be worth $250,000.“
How to put bitcoin into perspective
source https://www.economist.com