U.S. tech billionaire Joel Bomgar, speaking at FreedomFest 2024, argued that Bitcoin does not fit the traditional definition of a financial bubble. Bomgar highlighted that historical bubbles, such as tulip mania and the dot-com bubble, typically exhibit a single cycle of rapid growth followed by a collapse. In contrast, Bitcoin's price history, when viewed on a logarithmic scale, shows a pattern of sustained growth with each decline remaining significantly higher than previous lows. Bomgar compared Bitcoin's growth trajectory to that of transformative companies like Apple and Amazon, as well as gold, suggesting that Bitcoin's value is underpinned by its borderless nature, predictability, and scarcity. He emphasized that these characteristics differentiate Bitcoin from classic bubbles, supporting its long-term viability as a world-changing asset.