“The striking parallels between Bitcoin and MBS suggest that history may be repeating itself. In fact, the negative consequences of the analogy of Bitcoin to gold might be even more severe than the analogy of MBS to bonds. While most MBS at the end of the day were backed by real assets — mortgages on real houses — Bitcoin is not backed by any real assets. If you are not in the business of speculation, steering clear of investing in Bitcoin — or for that matter any cryptocurrency — may be the best way to avoid the fallout from another misguided analogy.”
Rahul Kapoor, Professor, Wharton School · Bitcoin since: -19%
As published by Knowledge at Wharton
Should We Compare Bitcoin To Gold? Lessons From The Last Financial Crisis ↗
A little perspective.
Bitcoin on that day$87,472March 25, 2025
$100 at that price$81.12At our latest price check
Illustrative value using a Bitcoin price of $70,957, checked Nov 13, 2026, 1:50 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Should We Compare Bitcoin To Gold? Lessons From The Last Financial Crisis” — Rahul Kapoor, Knowledge at Wharton, March 25, 2025. Bitcoin: $87,471.7. https://bitcoindeaths.com/posts/2025-03-25-should-we-compare-bitcoin-to-gold-lessons-from-the-last-financial-crisis