Sabeer Bhatia, founder of Hotmail, one of the famous e-mail services, says that crypto money projects are frauds and that these projects are based on 'hope and dreams' rather than something concrete. Speaking to Arabian Business magazine, Bhatia said:
"My business model is downright fraud.
Bhatia gave an example to better explain the statement he made, and he pointed to IOTA, which focuses on the Internet technology of objects:
"IOTA, based on the Internet of objects" I have a token. But so far, they have not sold a single device to anyone. The whole idea is: 'In the future, an IOT device will be able to talk to another IOT device, and they will be able to finance themselves using Blockchain'. And this idea has not been passed by now, but is it worth $ 15 billion? These values are entirely speculative. "
Nevertheless, Bhatia is not as rigid as Warren Buffet in crypto paralysis.
He also thinks that many investors in the crypto money market will soon regret that they will regret it. According to Bhatia, the rise of the crypto money market resembles the Dotcom balloon.
Bhatia Bitcoin likes Pets.com, which has been on the rise for some time but has not kept the timing very well. Some people compare the crypto money market to the dotcom balloon and they say the market will collapse. However, we have to realize that there was a big downfall when dotcom bubble burst, but new things came out. The explosion of the Dotcom balloon enabled the giants like Amazon to emerge much faster.
We see GP Bullhound as one of the investment companies.
"A few co-survivors who have survived will record unprecedented growth."
GP Bullhound said that he would eventually collapse in front of the crypto money market, but after this collapse a few coins would survive and these coins would grow very seriously.