It excites me when I see things like this from people that have accumulated large amounts of wealth. If they with their experience and skills are paying attention it bodes well for the future of bit coin.
Agreed. I suspect more and more of the financial elite will start viewing Bitcoin as one of the best mechanisms for hedging the vast fortunes they've amassed over the past couple of decades of corrupt insider banking practices against the deflation of their respective currencies. It took alotta "hard work" bilking hundreds of billions of dollars from the working middle class. No chance they will be giving up their new stations in life all that easily. 
Topic: [2014-07-11] Ex-J.P. Morgan Trader Joins Bitcoin Bulls Launching Hedge Funds (Read 712 times)
July 13, 2014, 09:27:44 PM
July 13, 2014, 06:12:42 PM
It excites me when I see things like this from people that have accumulated large amounts of wealth. If they with their experience and skills are paying attention it bodes well for the future of bit coin.
July 13, 2014, 12:50:34 PM
"Masters—who tells Newsweek he now uses Bitcoin so habitually that “I don’t even want to say how much I carry around on my phone, probably too much”—is a long-term Bitcoin bull, dismissing Wall Street contemporaries who shun the currency as unstable and fly by night.
“The way I see it, Bitcoin is just another commodity, like oil,” Masters says. “The state of Bitcoin is a lot like the state of the oil market 25 years ago, where you had a lot of these transactions happening merchant to merchant, this product that everyone wanted and could use but whose prices were very, very volatile, very shaky.”
He believes Bitcoin’s prices will stabilize as the currency and technology mature—similar to what has happened over the past decade with oil—but in the meantime, he estimates the value of Bitcoin could rise to $2,000 or more. “Right now, Bitcoin has about 1,000 percent annualized volatility,” he says. “Compare that to oil at 15 to 20 percent and stocks at 10 to 15 percent.” In other words, the potential upside, in the eyes of an experienced trader, are too appealing to resist."
http://www.newsweek.com/ex-jp-morgan-trader-joins-bitcoin-bulls-launching-hedge-funds-258494?piano_t=1
“The way I see it, Bitcoin is just another commodity, like oil,” Masters says. “The state of Bitcoin is a lot like the state of the oil market 25 years ago, where you had a lot of these transactions happening merchant to merchant, this product that everyone wanted and could use but whose prices were very, very volatile, very shaky.”
He believes Bitcoin’s prices will stabilize as the currency and technology mature—similar to what has happened over the past decade with oil—but in the meantime, he estimates the value of Bitcoin could rise to $2,000 or more. “Right now, Bitcoin has about 1,000 percent annualized volatility,” he says. “Compare that to oil at 15 to 20 percent and stocks at 10 to 15 percent.” In other words, the potential upside, in the eyes of an experienced trader, are too appealing to resist."
http://www.newsweek.com/ex-jp-morgan-trader-joins-bitcoin-bulls-launching-hedge-funds-258494?piano_t=1
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