Wednesday, July 5, 2017

Stock picker talks crypto coin

Bloomberg post on a stock pickers take.
“There are only 21,000,000 bitcoins in circulation and the world will fight over those 21 million coins as confidence in currency and other investments deteriorates,” Moas wrote, referring to the algorithm that caps the amount of bitcoin that can be created. “I have little doubt that 1% of the money in cash, bonds, stocks and gold will end up in cryptocurrencies.”
100% of currency is going crypto, including central bank currency.    How much of that does bitcoin get, in market share? I would think 1% is fair. The sandbox supports the gold standard, and that currency shares space with bitcoin. Then we will have reformed governments less likely to distort central bank money.  But after all the adjustments, we will still need a unit of account separated from politicians, and bitcoin should easily get 1%.

No comments: