The Standpoint Research founder who correctly predicted bitcoin’s meteoric rise thinks bitcoin will ultimately reach $400,000, and he is serious.
Ronnie Moas believes that the much-hyped digital currency will have yet another surge that will ultimately see it becoming the most valuable currency in the world, according to an interview he gave on CNBC's «The Rundown».
Bitcoin will be in the news again in the coming days as the CME Group will start trading bitcoin futures from December 18, after receiving approval from the regulator.
The authorization means the digital currency will be traded on a Wall Street exchange and subject to federal supervision for the first time. Senior banking figures in the U.S. and Asia have called the currency, which operates independent of any central bank, a fraud.
According to Moas there will be 300 million people in the world trying to get their hands on a few million bitcoin. This overwhelming supply and demand imbalance is what is going to drive the price higher.
