Bitcoin Goes Mainstream
As I write this Bitcoin just traded at US$ 10,500. Simply blew past the psychologically important hurdle of $10,000 in one giant swoosh!
Many infinitely wise and famous men of finance have called Bitcoin a fraud and a bubble. While skeptics abound, it was the late Nobel prize winning economist Milton Friedman who first saw the potential of the internet and digital currencies. Dr Friedman, your prognosis has come true.
Not a single day goes by without several mentions, analyses and debates about Bitcoin on every major media and social media outlet. It’s up over 1200% this year alone and boasts a ‘market cap’ of close to $200 Billion. Retail and institutional interest in Bitcoin is growing by the hour. The crowds want in.
There is this huge FOMO sitting on the sidelines. And there’s the huge fear of a bubble bursting savings accounts. What’s one to do?
Win or lose, the crypto genie is out of the bottle. The future is uncertain. And nobody knows where this whole thing goes. But I think we can now pronounce that Bitcoin has gone mainstream.
Enjoy the ride!
The author, Rajan Chopra, is a former derivatives trader turned executive coach, advisor and markets strategist. You can learn more about him and his coaching services at www.chopracoaching.com.