Felix Zulauf on Bitcoin mania

I don’t believe that Bitcoin will ever make it as money used in daily payments.  It is too complicated, the price is too volatile, and “mining” it requires too much energy.  But as long as people think of Bitcoin as a safe store of value, the price could go higher, and it could become a mania.  At the peak of the tulip-bulb mania [in the 1630s], the most expensive tulip bulb cost as much as a house.  That suggests Bitcoin could reach $1 million someday.  But tulip bulbs trade today at only $10 a dozen.

~ Felix Zulauf, "The View From Europe," Barron's, February 20, 2021