Bitcoin skeptics: Bitcoin value will plummet 99%, similar to the situation in which Tumblr was sold

According to CCN, Automattic acquired Tumblr for less than $3 million, a significant drop in value compared to Yahoo's $1.1 billion paid in 2013. CCN's Bitcoin skeptics believe that the same thing happens with Bitcoin. Ed Butowsky, managing partner of Chapwood Capital Investment Management, said, “Even the world’s smartest dealmaker has been hyped and overestimated, overestimating the true value of an asset. Bitcoin will eventually become almost worthless. Like Tumblr, because its true value is almost zero." But at the same time, he said, "This does not mean that there will be no bigger fools paying more for it until it becomes zero."