Bitcoin Could Be At $1 Million By 2020

 

Video length: 00:13:55

Transcript

Daniela Cambone: Is Bitcoin (BITCOMP) heading back to its highs and will it ever replace gold as the ultimate commodity. James welcome to the show. Good to have you in studio.

James Altucher: Daniela, thanks for having me here. By the way your voice was an octave higher when you started talking to the camera.

Daniela Cambone: It's the anchor voice.

James Altucher: Yes. Octave higher increases likeability octave lower increases trust-worthiness.

Daniela Cambone: OK. So let me find a medium ground here. That is a good tip. James thank you so much. First time you’re on here. Let’s talk about the rally behind bitcoin. Everyone wants to know: could we see those highs we once hit?

James Altucher: Sure. I mean there’s a short term story and a long term story. The long term story I’ve described in a lot of places. August 2017, I described the long story on CNBC, how crypto currencies solves in general, many of the problems of paper currencies and fiat money which you’re familiar with. The fact that there’s so many banks and fees and there’s so much potential for human error. When the Federal Reserve or the central bank prints more money there’s potential for forgery. There’s privacy issues, etc. So crypto currency solves a lot of the problems of fiat money. And that long term story is still intact. So long term, it’s just all crypto currencies that are safe and not scams are going to go up. And again in the prior interview I mentioned, I said ninety five percent of crypto currencies are scams. That was in August 2017 and about 80 percent of cryptocurrency since then have gone to zero. So that’s been proven mostly correct. In terms of a short term rally, there’s so many problems right now with Iran with China and these tariff wars that are happening, Brexit issues... So people are getting afraid of the currencies that they own.

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Comments

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Currency Trader 10 months ago Member's comment

Yes, #Bitcoin will go up again, but to $1 million? When pigs fly!

Alpha Stockman 10 months ago Member's comment

While $1 million is a big stretch, the author does make some surprisingly good points about #bitcoin. $BITCOMP

Gary Anderson 10 months ago Contributor's comment

It would be nice to know how much Bitcoin James owns.