Bitcoin Price Will Hit $1 Million, Says Social Capital Founder

According to Zerohedge the Bitcoin bubble is the largest the world has ever seen. At least using their parameters. However one does sense that cryptos, though very possibly in a bubble have more to run. Perhaps a lot more.

And it’s not like crypto currencies are going away even if there is a dramatic crash. Bitcoin is out of the bottle. It and its brethren are here and they are changing the financial (and broader) world.

The blockchain, the ledger that underpins cryptos is going to change your life soon too. Banks, accounting firms, all sorts of industries have only just begun to be disrupted. (One of the reasons JPMorgan and UBS keep sending out the anti-Bitcoin “press releases”.)

The potential in the blockchain and in cryptocurrencies is immense. Some might even say we are witnessing a revolutionary moment. I might even say that.

In the immediate term however, caution, again, is the word.

Also, Bitcoin ain’t gold. It’s its own thing and it is valuable. But it ain’t gold.

(From The Coin Telegraph)

Chamath Palihapitiya, founder of Social Capital and co-owner of the Golden State Warriors, voiced his opinion on the value and potential growth of Bitcoin in an interview on CNBC on Tuesday.

The business leader, who first invested in Bitcoin in 2012, indicated that he sees the price of Bitcoin rising massively in the next 20 years as adoption continues to grow.

His analysis echoes other commentators and investors who have seen the potential for Bitcoin’s price to reach levels close to $1 mln.

Click here for the article.

http://www.againstcronycapitalism.org/