I don't think something like Bitcoin is ever going to succeed at being money. It's not going to be used as a medium of exchange as a store of value but what it is now is a speculative asset. People are buying it, it's appreciating and the people that own it on paper are making money and some of them are actually cashing out and making real money but the majority of the paper wealth that's been accumulated is still sitting there. But you do have people that are coming in and buying at these high prices. Ultimately the bubble is going to pop and the things are going to come crashing down, the question is how much bigger is this bubble going to get? Have we already seen the peak or is this going to be the biggest bubble of all time?
- ► 2018 (83)
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- Euro Currency: This Move Is Just Beginning
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- Bitcoin Is A Speculative Asset, A Bubble
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