Also, by being "an authority" and calling it a bubble, he may be trying to influence the price downward in the short term. And he might actually believe it's a

Also, by being "an authority" and calling it a bubble, he may be trying to influence the price downward in the short term. And he might actually believe it's a bubble, but that just means that it will grow quickly then burst. I'm no expert, and honestly, I don't even get what BTC actually is, nor do I care about it, so I look at it simply as a commodity. And I see the phenomenon of BTC trading more as a lot of little bubbles. Each time it bursts, you get a lot of new guys coming in at the lower price thinking it will go back up, and when it does, either someone hacks something to steal money, or people get cold feet and start selling, bursting that bubble, bringing the cost back down for more people to in on it. It is a vicious cycle that keeps happening, and people keep buying.