Bitcoin Buying Timing Crucial: Veteran Trader Compares to Historic Amazon Buys

Veteran trader Dave Weisberger has drawn a comparison between buying Bitcoin today and buying Amazon before its historic rise. He argues that the key question is not whether Bitcoin succeeds, but when investors enter the cycle.

Weisberger said on The Wolf Of All Streets podcast, 'Buying Bitcoin is like buying Amazon,' adding, 'The question is, do you buy Amazon at $90 before it went to nine, or do you buy Amazon at $9 before it went to over $1,000?'

Bloomberg's Mike McGlone was less optimistic about Bitcoin, saying the asset is in a bear market and has yet to face a real macro stress test. He warned that if Bitcoin dropped 20% to 30% with equities falling, then the macro asset thesis would be broken.