The money goes to where the regulation is loosest
An interesting phenomenon in the Bitcoin mania is following where the real money goes.
Danny Bradbury in the Financial Post today writes today about bigger-cap companies and how they're raising money and attempting to cash in.
One is Hut 8/Bitfury which used a reverse takeover to get a listing. The deal is on the TSX Venture exchange, which is an easy place to get listed and do business.
In any case, here was the pitch for the miner:
"Bitcoin is going to go to 500 grand, because of the nature of how it's limited," said Sean Clark, CEO of Hut 8, referring to the cap that the Bitcoin network puts on the coins.
That's a bizarre pitch. I mean, lots of things are limited.
In any case, I make a cameo reminding everyone that everyone who used to say that Bitcoin is the future of monetary transactions is now saying it's a store of value.
