Everyone Is Baffled By Alan Greenspan's Comment About Bitcoin

REUTERS
Federal Reserve Chairman Alan Greenspan testifies before the Senate Judiciary Committee on the effects of the recent wave of mergers in corporate America, June 16. Greenspan told the committee that the economic effects of the mergers were difficult to estimate but noted that they were unlikely to reduce competition substantially.
Regan got right to the point: "Is Bitcoin a bubble?" Regan asked.
"I guess so," Greenspan said, adding, "You really have to stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. But if you ask me, 'Is this a bubble in Bitcoin?' 'Yeah, it's a bubble."
People are baffled by this remark.
That's because Greenspan refused to call the housing bubble a bubble, and presided over the dot-com bubble despite seemingly having recognized it as such as far back as 1996, when he made his "irrational exuberance" speech.
Here's a smattering of the reaction from Twitter:
He would know. RT @trish_regan: Alan Greespan on #bitcoin "I guess it's a bubble". link here: http://t.co/Mx9YEzAkKa pic.twitter.com/kh8wlahyGF
- Peter Ghostine (@PeterGhostine) December 4, 2013
GREENSPAN CALLS BITCOIN A BUBBLE ASSURING ITS RISE TO $10,000
- Timothy Connolly CFA (@SconsetCapital) December 4, 2013
I would MUCH RATHER hear Greenspan call Bitcoin a bubble than not. He's never recognized a REAL BUBBLE of his own making (Y2K, housing, etc)
- Cody Willard (@codywillard) December 4, 2013
Funny, I think RT @zerohedge: GREENSPAN SAYS OF BITCOIN: `IT'S A BUBBLE'. sigh
- Brian Posner (@FrontOfTheHerd) December 4, 2013
Oy vey! Greenspan talks bitcoins, bubbles and bloomberg! (fine alliteration) http://t.co/pTXBr67B15 VT6fx8yBTOOQIAFlrraqDQ.html
- Douglas Kass (@DougKass) December 4, 2013
Maybe Greenspan got religion since stepping down from the Fed in 2006. But of all the things to now call a bubble, when the evidence is mounting that it's not necessarily so: Bitcoin?
The worst for Indian startups is yet to come — be prepared for layoffs, unicorn slowdown and startup shutdowns in 2022
Kellyanne Conway says her husband was 'cheating by tweeting' his disdain for former President Trump in her new memoir
A SpaceX flight attendant said Elon Musk exposed himself and propositioned her for sex, documents show. The company paid $250,000 for her silence.
What would happen to Twitter if Elon Musk backs out now?
Researchers develop a virus that works even when iPhone is switched off
Supreme Court of India extends time for submitting Pegasus probe report
Chopper services launched in Goa for tourists, locals
Both Ambuja Cements and ACC are bet worth investing with strong parent Adani