Joe Rogan’s podcast guest Peter Zeehan claimed that Bitcoin has no intrinsic value and could go as high as $17,000.
Community members took to social media in response to the claim by Peter Tsihan, a guest on the Joe Rogan Experience (JRE) podcast.
American geopolitical analyst Zehan, author of American Geopoliia, claims that crypto has always been a “hot container fire” and has no value at that level. The analyst claims that the #1 digital asset by market capitalization is now on the rise.
Additionally, Bitcoin, which is trading at $17,000 at the time of writing, will drop by $17,000. He added:
“The craziest thing about Bitcoin is that X number of people can never have more than X number of Bitcoin units. By default, this means that it cannot be used for trading.
“There is a complete understanding of economic activity and expansion, which means you need more currency to moderate and control expansion,” Sihan argued. If the currency supply is locked, the analyst claims, there will be inflation, which will destroy the economic model.
Joe Rogen, podcast
Due to Seehan’s comments, Bitcoiners immediately offered their responses and countered Seehan’s claims. Some members of the community immediately pointed out that they had not read the Bitcoin white paper.
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Bitcoin Bitsy’s white paper emphasizes the importance of not reading. Source: Twitter
JR’s guest was slammed by Swan Bitcoin CEO Alex Strux Strux Strux who said his comments were ignorant. “Almost all these “experts” in this short term are nonsense,” wrote Stankic.
Jeff Ross, founder of hedge fund Wells Capital Management, pointed out the flaws in Zehan’s argument. He wrote on Twitter:
Meanwhile, one community member proudly defended Bitcoin and attributed some of its characteristics to intrinsic value. These include small amounts of ambiguity and heterogeneity called satoshif and eccentricity.
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While Rogen disputed Cihan’s claims in the episode, the popular podcaster previously teased Bitcoin on a positive note. Rogen said May 4, 2022 BTC is like the early internet and the government didn’t see it coming. The podcaster noted that it is a “practical currency” and can be used to buy and use things.