It’s a broken analogue in the first place, because bonds are debt instruments and cryptocurrency is not a debt instrument. The author also does not seem to know

It’s a broken analogue in the first place, because bonds are debt instruments and cryptocurrency is not a debt instrument. The author also does not seem to know that blockchains do have economic activity and transaction fees that can form the element of interest or free cash flow. As a stretch, the article comparison could be made for a stock that never pay dividends, like Uber. It is still an interesting comparison, nevertheless,