During his recent appearance on Bloomberg Surveillance, prominent American investor Steve Eisman — who famously bet against the U.S. housing market on the verge of its collapse in 2008 — mentioned that he didn’t want to get involved in Bitcoin:
Steven Eisman does nothing with the big Bitcoin. I stay out of it…I don’t understand it. I don’t know how to value it.
He went on to compare attempts to ascribe value to Bitcoin to trying to counting the number of angels that are “dancing on the head of a pin”:
My personal opinion is that they are buying or selling something that is impossible to value… You know, it’s one thing to talk about what is the U.S dollar-yen valuation, but when talking about Bitcoin, I think we are talking about how many angels are dancing on the head of a pin. I don’t know how to answer the question.