The best thing about bitcoin was how everyday people finally got one up on the City. While professional investors were busy denigrating cryptocurrencies, punters made millions or even billions off the new tech. It was the first bottom-up investment boom since the last gold rush.
But that’s over now. Wall Street is in on the crypto action. Cryptocurrency exchanges seem to be making more money than investors. And the crypto ecosystem seems to have more sharks than whales.
But what does this mean for the price? If cryptocurrencies are finally gaining traction in some of the biggest investment spaces in the world, what’ll happen to their values?
Well, unlike stocks, bonds or commodities, bitcoin’s supply is fixed and will eventually reach its cap. You can’t just issue more in order to fleece investors.
What happens when a vast wall of institutional investors’ money tries to get into a crowded theatre? My old friend and cryptocurrency expert Sam Volkering reckons that he has spotted some smoke signals…
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Nick Hubble
Editor, Fortune & Freedom
