As you know if you follow developments, bitcoin futures will soon be available courtesy of the CME. (Chicago Mercantile Exchange)
Up until recently the majority of investors were small-time tech savvy crypto enthusiasts.
That started to change it seems at the beginning of the year with an influx of hedgefunds and startups coming onto the scene.
I may be wrong about this but it really looks like what is about to happen will elevate the value of bitcoin to the next level. Institutional money will now start to come into bitcoin and drive up the value to (for now at least) obscene levels. Predictions anyone? I’m not qualified to give any reasonable prediction but I have heard some and they make the current price look bargain basement.
Expect a lot of media coverage in the coming months. Especially a lot of negative coverage as the status quo gets into more of a panic about this new scary upstart technology.
As for me. I’ll just watch and hope this bubble is only just starting to gather steam. Until Bitcoin came along I never set aside a penny in savings. I guess I was yet to find something worth saving.
If you want to know what CME thinks about the potential of bitcoin click the link below.
(Spoiler. They think it has legs.)
http://www.cme group.com/education/featured-reports/evolving-economics-of-bitcoin-gold-currencies.html