The Fiat Gods Must be Crazy: Gold and Silver and Bits, Oh My!

‘Disclaimer,’ the post that a friend sent over warned: ‘This is a theory based on no evidence whatsoever.’
Hmm…
Glad I don’t take financial advice from you, I thought. But, hey, at least you’re honest.
‘I feel like,’ it went on, not skipping a beat, ‘the SEC is going to approve the Bitcoin ETF, and some of the high-ranking officials are already privy to this information. I am of the belief that these officials are buying up all of the cheap coins they can before the ETF news is released, and before the true FOMO begins.
‘Therefore, my advice to you guys is to buy up whatever you can before we hit four and five digits.’
There’s been an explosion of speculation from all sides as to why bitcoin’s up well over $100 in less than 30 days. (The price, upon writing, is a smidge below $888.

This post was published at Laissez Faire on Dec 23, 2016.