Published On: Sat, Jun 17th, 2017

‘Not Crazy’: Investment Media Starry-Eyed Over $1m Bitcoin

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As cryptocurrency markets recover this weekend, the idea of a $1 million Bitcoin has received more support from mainstream investment media.
Money Morning: $1m Bitcoin ‘Isn’t Crazy’
After Xapo CEO Wences Casares repeated his forecast of the magic figure becoming reality within 10 years, more and more voices from the mainstream investment press are signaling belief in Bitcoin’s future.

The latest of these is Money Morning, which in an article Thursday stated the idea of Bitcoin being worth $1 million “isn’t crazy.”
Citing Casares’ prediction, the publication unveils ways in which Bitcoin’s price could indeed reach the stratospheric levels many never thought possible:
Surprisingly, there are multiple scenarios in which Bitcoin could reach the $500,000 to $1 million range.
These range from the virtual currency cornering the international remittance market to investors looking for a “safe haven” and US government economic policy.
Snapchat Investor’s $500k Prediction Inspires
“Rapidly increasing borrowing and spending by the federal government could undermine the value of the U.S. dollar to the point that inflation spirals out of control,” the piece continues. “This isn’t as far-fetched as it …

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