Bitwise CEO: Bitcoin price rise will not trigger similar concerns about overvaluation as stocks

Odaily News Hunter Horsley, CEO of Bitwise Invest, said Bitcoin hit a record high this week but has not raised the same concerns about overvaluation among investors as stocks. "Bitcoin is different," he explained, saying that when a company's stock "goes up, the price-to-earnings ratio goes up, and at some point people say 'this is overvalued' and then they become less interested until the price goes down." Horsley added that without the same financial performance indicators, "when the price of Bitcoin goes up, people will think it is more likely to succeed and therefore more valuable, so it is likely to go up further." (Cointelegraph)