Stock research analyst Ronnie Moas said he bought bitcoin this weekend and thinks it could reach $5,000USD within a year.
“$5,000USD could happen in a few months. It’s only starting to gain traction right now,” Moas, founder of Standpoint Research, told CNBC in a phone interview Wednesday. “It’s starting to spread like wildfire right now.”
He pointed out that since only 21 million bitcoin can ever exist, increasing demand for the digital currency will naturally drive its price up.The research analyst’s view on Bitcoin joins the optimistic views of others on Wall Street. On Sunday, Goldman Sachs’ technical analyst Sheba Jafari said in a note that bitcoin could rise as high as $3,915USD.
“In the next 6 to 12 months you’re going to have a little bit of a hysteria,” Moas said. However, “this has a long, long way to go before it gets to bubble territory.”
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Global money in perspective (See image below).
Note: Bitcoin and cryptocurrency is still in the early adopter phase.
As part of its efforts to boost local employment, the state has recently allocated public funds to help with a local Bitcoin mining firm project, according to the press release from the Office of Montana Governor, Steve Bullock. Bitcoin is perceived as a long-term opportunity for job seekers and Montana is one of the first states in the USA that officially supports the potential of it.
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The president of Russia briefly met with Ethereum inventor Vitalik Buterin during an event last week.
The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.
According to the brief statement released on Friday by the Kremlin:
“Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners.”
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