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Bitcoin Is A Bubble? “It’s Ok” Says Neo’s Da Hongfei

bitcoin is a bubble

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In an interview with CNBC, Da Hongfeifounder of Neo–said that “it’s ok” even if Bitcoin is a bubble.

When asked, how the wild run-up of Bitcoin affect Neo’s business, as a Blockchain platform provider. He answered by saying that Its a good thing as it brings a lot of exposure for the Blockchain industry.

Bitcoin is a Bubble


Responding to the ‘Bubble’ question, Hongfei said, ‘Its Ok’ even if its a bubble. As per him, every disruptive technology is bound to have Bubbles. Technological advancements such as ‘Trains’ & ‘Automobiles’ they all had their Bubbles around them.

“With Blockchain, I believe, probably we are in the later stage of a Bubble. But even if it bursts, the next when it comes up, it will be even bigger”.

Neo, with an approx market cap of $2.7 billion, places itself at the 12th spot among all other cryptocurrencies. As per the CoinMarketCap, the current circulating supply for Neo is 65,000,000 NEO.

Bitcoin Is A Bubble

Da Hongfei is the founder of Neo, formerly known as Ant Shares, which was rebranded to Neo, earlier this year in August.

Mr Hongfei said that Neo is a platform which will facilitate the Smart Economy of the future. He further added that for them to facilitate the Smart Economy of the future:

“We need to be the best Smart Contract platform”

He went on to explain that; although Neo’s ecosystem is very similar to Ethereum, yet it is different, as Neo is compliant ready. Whereas, Ethereum is platform is more aligned towards the more open and decentralized ecosystem.