Everything The Felder Report got wrong about Bitcoin

Everything The Felder Report got wrong about Bitcoin

Bitcoiners are crying foul at former billion-dollar hedge fund manager Jesse Felder’s “inaccurate” hot take blog post about Bitcoin today in which he claims the crypto asset “doesn’t make sense as an investment nor as a currency alternative.” Bitcoiners seemed taken aback by the number of factual inaccuracies in the post coming from someone working in finance.

In the Nov. 18 post on his financial blog titled “Please Stop Asking Me About Bitcoin,” Felder claims Bitcoin (BTC) is not used as a medium of exchange, nor does it provide any store of value. He also questioned the value of one of the key features of the cryptocurrency — its scarcity, with only 21 million possible coins — by claiming that hard forks are “multiplying the number and type of Bitcoins in circulation.”

“If you put together all the hard forks Bitcoin has undergone since it was first created, the number of total Bitcoins has actually grown faster than the

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