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Why We Are Not In a Bubble

Josh Brown, a popular blogger and investment adviser, announced last week that he joined the crypto circus with his first-ever bitcoin purchase.

“So you are now free to dump all of your cryptocurrencies because this surely marks an all-time top,” he joked (kinda). “But I thought I’d mention it anyway.”

He later told MarketWatch that, even if his investment turns out to be a bust, he’ll probably learn enough to come away with something valuable.

“I’m not a disruption hippie or an early adopter or a visionary or an evangelist,” he said. “But I’m too curious to not experience bitcoin ownership for myself.”

While Brown may have given in to FOMO (fear of missing out), many of his peers aren’t exactly tempted by bitcoin BTCUSD, -2.56%

Not yet anyway.

“Honestly, I have no idea why we need to be a part of that whole thing,” says Dana Lyons of J. Lyons Fund Management, chalking up his hesitation to Warren Buffett’s ...

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