Market

Financial advisor Ryan Payne warns that crypto is “one of the biggest bubbles of all time.”

Financial advisor Ryan Payne, President of Payne Capital Management, spoke on Yahoo Finance in December about the future prospects of Bitcoin and the crypto market.

Payne helps shape investment and financial planning strategies and oversees all financial advisors in his firm. Prior to founding Payne Capital Management, he was a financial advisor at Merrill Lynch for nearly 8 years.

In the interview, Payne agreed with Berkshire Hathaway Vice Chairman Charlie Munger, who recently said current markets are wilder than the dotcom bubble and noted that “bubbles are forming”.

“All Bitcoin, all Crypto is one of the biggest bubbles of all time.”

Billionaire Warren Buffett’s right-hand man, Munger, also spoke about cryptocurrencies, particularly Bitcoin. He praised China’s ban on cryptocurrencies and wished that cryptocurrencies would never be created.

Payne noted that Bitcoin could go even higher:

“There is so much money that can flow into this market. It’s just getting bigger and bigger. ”

“Eventually we will no longer use it for commercial purposes. It just drives people crazy to speculate. It’s very similar to the tech bubble burst. ”

“The reason to own it doesn’t make a lot of sense because it really isn’t as great a store of value as people say. It’s extremely volatile. It’s fake scarcity. It’s not that gold is really scarce. ”

“I think at some point this bubble will burst. It’s getting ugly. ”

Regarding the global crypto market cap of over $ 2 trillion, Payne emphasized:

“When the dot-com bubble burst, those dot-com stocks were worth half a billion dollars – adjusted for inflation, that’s one trillion dollars in today’s value. Most of these stocks became worthless. Even Amazon lost 80% to 90% when the tech bubble burst. It took you 14 years to get your money back. ”

“So I think there are bubbles. They are just spreading. The smart money is that you can get out early. Better to get off early than late. Diversify your investment portfolio. Protect yourself because in the end every party is over and when it’s over no one will tell you in advance, “concludes Payne.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

17 minutes ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

2 hours ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

2 hours ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

3 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

4 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

5 hours ago

This website uses cookies.