Bitcoin (BTC) Valuation Models Are Wrong

Crypto, Bitcoin Market Is “Just A Bit Backward”

Michael Casey, the chairman of CoinDesk’s advisory board, a well-recognized author, and the co-founder of Network Effects Media, sat down with Cheddar, an up and coming business media outlet, on Thursday. The crypto-friendly outlet called on the industry insider to discuss the state of the crypto industry today, and a number of unique topics were brought to the table.

A Cheddar anchor, staving away from asking the outlet’s normal round of questions, asked Casey if the way that crypto investors value digital assets, such as Bitcoin (BTC) or Ethereum (ETH), are putting cryptocurrencies into a crisis. Responding passionately, the crypto proponent, who regularly contributes to CoinDesk, noted that this market’s valuation models are “all just a bit backward.”

Elaborating on what he meant, Casey noted that cryptocurrencies and related technologies are seen as a way to disintermediate ecosystems and to curb centralized…