Ronnie Moas, who for more than 13 years has made more than 900 stock recommendations via his one-man show at Standpoint Research, now ventures into cryptocurrence.
Bitcoin will double to $ 5,000 next year and will reach $ 25,000 to $ 50,000 over the next decade, Moas said in Miami Beach, Florida, in a note to customers on Wednesday where it also revealed that 'He bought' a bit 'from litecoin, bitcoin and Ethereum in a Coinbase.com account.
It is a testimony of the exuberance around bitcoin, ethereum and other block-block assets that equity investors who had not been involved in cryptographies are now starting to analyze and bet on the sector with the Enthusiastic bitcoins who see long-term gains, although they say there might be a correction after the recent rally.
"There are only 21,000,000 bitcoins in circulation and the world will fight on these 21 million coins because confidence in the currency and other investments is deteriorating," Moas said referring to the algorithm Which limits the amount of bitcoin that can be created. "I doubt that 1% of cash in cash, bonds, shares and gold will end in cryptocurrence".
Bitcoin more than doubled this year up to $ 3,000 as adoption increased, more institutional investors supported blockchain technology and the second largest digital currency, ether, began to become popular in Fundraising for technology start-ups. Bitcoin slipped to $ 2,544.40 today from its June 12 high on the fact that digital currencies can not reach a wider acceptance fairly quickly and that their gains have been exaggerated.
Moas said he "is a little worried that there is a short-term bubble," but in the long run it is possible to make triple-digit returns.
Moas recommends securing cryptocurrence positions through services such as the one offered by Trezor.io and reminds customers that its publication is for informational purposes only and should not be regarded as investment advice or as a recommendation.