The Bitcoin bubble refuses to burst. Even old school currency traders are now rushing to get a piece of the action. Because on the 30th of September US Congress is expected to do something that could send valuations skyhigh. And if that happens, fortunes will be made.
To an outsider, investing in Bitcoin looked like a white knuckle ride. Its value would steadily creep up for years before nerves and bad headlines sent it tumbling. The use of Bitcoin for nefarious services on the “dark web” such as the infamous “SilkRoad” using the TOR browser didn’t help its cause. Because of this bad press, it seemed only a matter of time before the established players pulled some strings to get the upstart currency shut down.
However, it’s reckless teenage years are now behind it. It’sxpected to be legitimized and embraced by roughly 260,000 businesses. And Bitcoin is not the only cryptocurrency set for a bright future
I had the pleasure to speak to Louis Basenese, a former Wall Street investor who directed over $1 billion in institutionalcapital at Morgan Stanley. Louis told me how he repeatedly witnessed how the big banks would “screw over the little guy”. He saw how they’d purposely make investment seem so complex that few dared challenge their right to manage their own money. Anyone who is in the financial markets industry knows this is total bull. Louis got fed up with this “bull” and hence why he got so excited about cryptocurrencies such as BitCoin.
Full story at http://bit.ly/2jSWTx6
Source: Huffington Post
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