NO Upper Limit To Bitcoin

“All the speculative energy that would have pushed gold up to $2,500 to $3,000 range by now is all getting pushed instead into Bitcoin”

Rick Ackerman interviewed on USA Watchdog by Greg Hunter

Analyst, professional trader and financial writer Rick Ackerman says buckle up because Bitcoin is going to go much higher in price. Elon Musk is the latest in a line of billionaire investors that have bought the crypto currency that is now in the mid $40,000 range per unit. Ackerman says, “Bitcoin is pure speculation, and we are in a phase right now where the big players absolutely know they can’t lose. Just buy it now and announce in four weeks, six week or two months that they bought it, and it just keeps going up. . . . I don’t think there is an upper limit there really because it’s a pure speculation in a vehicle that is not constrained by earnings, multiples, real products or real service. Bitcoin is a complete abstraction. It’s just a speculation. . . . You might say there is a bit of a mismatch to this big dynamic vertical move in Bitcoin that is happening and whatever time remains to distribute it all to the rubes. In order to allocate all the Bitcoin they are acquiring right now to the rubes, they are going to have to have a way to allocate it fractionally. . . . When Bitcoin gets to a million dollars per coin, who are the buyers going to be?”

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Ackerman says, “All the speculative energy that would have pushed gold up to $2,500 to $3,000 range by now is all getting pushed instead into Bitcoin. Gold is basically saying, okay have your little fling. . . . I see gold and silver are biding their time, and they are fine. . . . Gold and silver are in arrested bull markets. . . . I think, in time, they will confidently reassert themselves in a hierarchy of assets. . . . They will always hold their purchasing power relative to any other class of assets you can imagine.”

FULL SHOW NOTES AND LINKS HERE

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