Remember when I told you guys that bitcoin would bounce between $500 and $800 or so for “a while?” A “while” in that case turned out to be quite brief. With bitcoin back near $1,000 each, I’d start with only a small fraction of a full position in bitcoin if you’re still wanting to buy.
Don’t force the bitcoin or any other trade.
I got a note from someone with a fascinating premise. Just imagine for a moment if everybody using U.S. dollars for their money today started using bitcoin instead. You could take the total circulation of dollars and divide it by the number of bitcoins to get some rough estimate of where bitcoin would be if it were to become the world’s de facto standard currency in a few decades or something. Dividing the current 1.2 trillion U.S. dollars in circulation by the 12 million bitcoins that have been issued, would give you a $100,000 bitcoin. Not that I’m expecting that, but it’s an interesting thought for sure.
Read the full article on MarketWatch here.