Bitcoin $10,000?

Bitcoin has entered a parabolic phase, blowing past the price of gold and hitting new all-time highs on a daily basis.
Trace Mayer, host of the Bitcoin Knowledge Podcast and a leading expert on bitcoin, recently discussed cryptocurrencies as an asset class, why bitcoin is better than gold or fiat money, bitcoin’s “seven network effects,” and much, much more on our podcast last week.
Here’s Trace on the biggest and most explosive driver for bitcoin that no one is yet talking about. If this gets going, Trace believed bitcoin could reach as high as $10,000 in a few years:
7 Network Effects Driving Bitcoin
Mayer has been bullish on bitcoin since it was trading around $0.25 (today it hit a high of $2,791), and he sees more upside potential for the cryptocurrency over the long-term.
‘Merchants accept it because speculators hold it,’ Mayer said. ‘Consumers use it because merchants accept it. Miners secure it…(and) developers then want to work on the most secure, most valuable blockchain.’
As developers build out the usefulness of the protocol, more applications arise. Next, we get financialization, he added.

This post was published at FinancialSense on 05/25/2017.