Bitcoin bubble?

Bitcoin $55,000? Fundstrat’s Tom Lee, one of the biggest equity bears among the major Wall Street strategists, says it’s possible, but not necessarily for the reasons many bitcoin bulls have suggested.“One of the drivers is crypto-currencies are cannibalizing demand for goldGCQ7, +0.04% ” Lee wrote in a report. “Based on our model, we estimate that bitcoin’s value per unit could be $20,000 to $55,000 by 2022 — hence, investors need to identify strategies to leverage this potential rise in crypto-currencies.”That’s a major jump from the $2,530 level that bitcoin BTCUSD, -1.09%  fetched recently. Of course, this would be on top of what’s already been an impressive stretch, with the price more than doubling since the start of the year.Lee predicts investors will look to bitcoin as a gold substitute, and the fact that the amount of available bitcoin is reaching its limit makes this supply/demand story even more compelling for those looking to turn profits in the crypto market.

The prediction assumes the senate remains a clueless catastrophe.

However, the central bankers have figured out that the kanosian system of monetary stimulus is crap.  They know their governments are in trouble.  If they do nothing, the private sector will replace central banking with sandbox, an existential threat.  What is the likelihood that government will give up central banking? Zero, none.

No, Janet will surrender to the sandbox, especially since we can help the senators default.