"Seth Klarman calls bitcoin a ‘trading sardine,’ others say ‘speculative mania"

Published in CNBC on 2017-12-15, "Seth Klarman calls bitcoin a ‘trading sardine,’ others say ‘speculative mania" declared Bitcoin dead or fundamentally doomed. The piece drew parallels to historical speculative manias, arguing that Bitcoin's price was entirely disconnected from any fundamental value. Bitcoin was trading at $16,548 at the time of publication. Bitcoin was in the midst of an extraordinary bull run, rising from $1,000 to nearly $20,000 by December.