With the advent of crypto currencies came an entirely new marketplace that was nonexistent just a decade ago. And as with all new things, once the market started adopting blockchain technology like Bitcoin, everybody wanted a piece of the action.
So much so that prices for Bitcoin and other digital currencies have skyrocketed to the tune of thousands of percentage points over the last few years.
But how high can Bitcoin really go?
To answer this question we must consider this new space in similar light to other speculative investments, and there’s no better person to give us a realistic, unbiased view of this new investing sphere than Rick Rule, the billionaire Chief Executive Officer of Sprott Global Resources. As a long-time advocate of free markets and decentralization from government control, in his recent interview with Crush The Street Rule says that with a $70 billion market cap, and perhaps more importantly the distributed ledger technology that makes it function, Bitcoin and the blockchain are here to stay.
Bitcoin to me is all positive… I’m a consumer of currencies and currencies are a medium of exchange… and the more competing currencies there are the better it is for consumers of currencies… I use U. S. dollars, I use Canadian dollars, I use gold, I use silver, and from time-to-time I use BitCoin.
This post was published at shtfplan on September 4th, 2017.