Tom Lee, co-founder of the analytical firm Fundstrat, has said that although Bitcoin is still hypervolatile, its trading volume is lower than that of other assets, which does not allow to speak of its high "speculativeness," Financial News has reported.
These are the statements made by the senior manager to the thesis that many investors are not in a hurry to add digital assets. Skeptics cite a lack of regulatory certainty and a high degree of speculation in the market, although they are showing significant interest, he has added.
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Despite many describing the sector as the "Wild West," the volatility of the MVIS CryptoCompare Digital Assets 100 index, which tracks the 100 largest crypto assets, does not exceed that of any other index by more than double.
According to Lee's calculations, Bitcoin's turnover is 2:1, while that of the US dollar is 96:1 and that of a barrel of oil is 31:1.
The Fundstrat co-founder thinks Bitcoin is like gold in the early days of its trading. The precious metal also experienced sharp price fluctuations in the 1970s until the market capitalization reached $10 trillion five or six years later.