Yen-Bitcoin Carry Trade t by 2020 we could be looking at $10,000-$20,000 bitcoin pretty easily. In fact, when I wrote my
The following is a summary of our recent podcast interview with Trace Mayer, “ Why Bitcoin Is Now Worth More Than Gold, ” which can be accessed on our site here or on iTunes here.
The price of bitcoin has exploded over $1,900 ($1,944 as of this writing) , and a yen-bitcoin carry trade may actually push it far higher, says leading bitcoin expert Trace Mayer.
Here’s what Trace said on our FS Insider podcast Friday:
According to Trace, this was all set in motion just last month when Japan officially recognized bitcoin and other cryptocurrencies as legal payment methods, which set off a flurry of buying in the cryptocurrency space. Trace again:
Though noting a 10-fold increase in the number of bitcoin users since its last peak, increasing adoption by merchants, and its limited supply in the face of growing demand as all working together for higher prices, looking forward, Trace said, “I don’ t think people understand just how explosive this could get.”
Though many look at a linear chart of bitcoin and see an unsustainable bubble, Trace noted that exponentially growing companies or assets should be looked at using a log price chart. If you do this for bitcoin and figure out the slope of the curve,
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