Brian Kelly likens cryptocurrency to the internet in the 1980s
A leading cryptocurrency expert has described Bitcoin as being similar to the Internet during its infancy.
Brian Kelly has said people should stop thinking of Bitcoin as a company which is one of the prime mistakes among investors.
The crypto analyst claims it is more like the “internet in the 1980s.”.
Mr. Kelly is founder and CEO of BKCM LLC; an investment firm focused on cryptocurrencies.
He says that Bitcoin is perceived in the same way as the Internet was in the 80s as he emphasizes that the digital asset is “not a stock.”
“You can’t think of it as a company right and I think that is where people make a mistake.
“This is not a stock, it’s not a company, it’s open source software.
“We’re early stage tech in this so you have to remember this is like the internet in the 1980s.
“I used to think it was like the internet in 1995.
“But after the last couple of months talking to folks, I think we’re more like the 1980s.”
Kelly vows that Bitcoin will be “game-changing” in the following months and years.
The top investor explains that the cryptocurrency’s “massive volatility” is partially down to the money’s “early days,” saying:
“So you know I think this technology is going to work it’s going to be game-changing.
“But it’s very early days so we can have this massive volatility.
“It’s Cisco, we’re at the age of Cisco and Microsoft.
“With Cisco, you’re talking about routers and you’re talking about internet protocols, so this is an open source software.”
Mr. Kelly’s comments about Bitcoin come during a time the cryptocurrency appears to be making a price recovery.
At the time of press, Bitcoin is currently worth $8,050, according to the Coin Thud live price charts.
In the last week, the virtual currency has added around $1,400 to its value.
This recovery marks a price increase of roughly 21 percent in the last week.