Jeff Berwick, chief editor and host at The Dollar Vigilante, has been involved in the bitcoin space since 2011, and he believes that now more than ever it’s important for investors to understand the market.
“As soon as I understood what it was, I knew this was going to change the world,” he said at the recent International Metal Writers Conference. “It’s going to be a whole sector unto itself … the total market cap of all cryptocurrencies combined is $70 billion now. This is a serious sector.”
Bitcoin prices have risen precipitously this year, and Berwick believes people are beginning to recognize that the cryptocurrency offers protection from current problems with the financial system. “We’re going to have a collapse of this entire financial system,” he said, adding, “it’s going to happen soon. We’re not talking 20 years, we’re talking months or years at this point.”
He believes that gold offers the same type of protection. “People talk about the Great Depression now. This is going to be so much worse, unfortunately, for a lot of people — unless they wake up and get some bitcoin or get some gold,” he said.
