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Tuliptime Bubble In Full Bloom: Bitcoin Breaks Through $10,000       

Next month contracts are expected to start Bitcoin trading through the Chicago Stock Exchange through ETFs. The first time to do a real short.

Uber, the world’s largest taxi company, does not own vehicles. Facebook, the world’s most popular media company, produces no content. Alibaba, the world’s most valuable retailer, has no inventory. And Airbnb, the world’s largest lodging provider, has no real estate,” said Tom Goodwin EVP, Head of Innovation at Zenith Media, to the TechCrunch site in March 2015.

Today, some might add Bitcoin to their list of improbably wildly successful runs, as the, increasingly widely distributed, crypto-currency has now crossed through the exchange value of $10,700 per unit, following a meteoric rise of about 900% since the beginning of the year.

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The value of all outstanding Bitcoins now stands at over $150 billion – more than the value of General Electric, the oldest publicly traded company, founded in 1892, with today some 295,000 employees and annual revenues of more than $120 billion. All without an economic base, a central bank or a country that stands behind it officially to underpin its value.

“At these stages, it looks like a prophecy that fulfills itself and continues to fulfill itself,” Ilan Arad Keshet, CEO of Yitsira Investment House, Told Dror Raich, “Calcalist”, adding that there is something to be done if the prophecy stops fulfilling itself.

“A new Bitcoin is being created all the time through the electronic algorithms that have created it, but it has a final producible amount – 21 million coins, already halfway through, and next month contracts are expected to start trading through the Chicago Stock Exchange through ETFs. The first time to do a real short. ”

It is hard to imagine what will happen at the moment when this virtual currency will start trading on the world’s largest commodity exchange in Chicago.

Will Bitcoin increase its value because of the legitimacy and exposure it will receive thereby? Will institutional investors, large or small, take a position in this speculative asset? Or perhaps will we all sober up from the dream instead? Many of the people who spoke with Calcalist for their article spoke of a break that will begin with the entry of the virtual currency into trading on the stock exchange – mainly because of the new possibility of making a short sale in a legitimate manner. However, one can not ignore the fact that the currency has become popular^ both in the public’s imagination but also, it seems, to private equity investors and VCs, and therefore, like sheep, institutional investors may not want to remain behind.

Stay tuned for a wild ride, but we may see conservative investors continue to stay on the sidelines, waiting for the Bitcoin bubble to burst.




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