Cryptocurrenvy Hedge Fund Calls IOTA “Sharply Overvalued”

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Earlier today cryptocurrency hedge fund Multicoin Capital, based in Austin, Texas released their analysis of IOTA. While the analysis was primarily in regards to the value of the currency, it also explored what Multicoin Capital sees as the currency’s major flaws.

Why do they believe it’s overvalued? The answer is actually quite simple. While IOTA has plenty of potential in the internet of things, at this point IOTA is not being utilized on a large scale for any singular purpose other than investing. The creators of IOTA didn’t intend for it to simply be a store of value, the technology behind it is all about function and the world hasn’t really found a place for IOTA yet.

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