As Federal Reserve chair Janet Yellen testified before Congress today, one attendee had some attention-grabbing advice: buy bitcoin.
As further evidence that interest in cryptocurrencies like Bitcoin is currently booming
“Bitcoin subsequently climbed toward session highs and traded 3.7 percent higher, at $2,418.46, as of 2:27 p.m. ET, according to CoinDesk.”
Last week, former JPMorgan Chase chief equity strategist and co-founder of Fundstrat Global Advisors, Tom Lee, laid out his predictions for where the price of Bitcoin is headed. And in Lee’s view, it’s headed way, way up:
“We believe one of the drivers of bitcoin is crypto-currencies are cannibalizing demand for gold. Based on this premise, we take a stab at establishing valuation framework for bitcoin. Based on our model, we estimate that bitcoin’s value per unit could be $20,000 to $55,000 by 2022.”
The incident was caught on camera, and the Bitcoin supporter was escorted from the hearing room on the grounds that the sign violated House Committee rules. Yellen herself didn’t comment on the subject of cryptocurrencies during her testimony.
