As we have noted, the argument for or against Bitcoin comes down to future prospects for legitimacy as a currency system. The “store of value”, “speculative asset”, and “diversification” arguments are all second-order pathways contingent upon its ability to establish itself as a legitimate, mainstream medium of exchange with widespread network-effect legitimacy.
But, ironically, that legitimacy may ultimately depend on its acceptance in financial asset terms.
Hence, the future is looking pretty bright today as the odds of that acceptance appear to be back on an upward trajectory as the CBOE Global Markets Inc. disclosed this week that it is seeking approval to list and trade shares of what could be the first Bitcoin exchange-traded fund in the U.S., according to a regulatory filing that hit on Monday.
Along with Cannabis, Electric Vehicles, and 3D printers, the Cryptocurrency space is one of the leading emerging growth spaces in the stock market over recent weeks as the price of coins such as Ethereum and Bitcoin ramp to unprecedented levels on growing legitimacy and acceptance among established institutions, including Wall Street and corporate titans such as Tesla, PayPal, Microstrategy, and Square.
But the upside is still potentially huge given the possibility that Bitcoin could reach market cap parity with gold as the core alt-currency stores of value in the global asset landscape, where it still lags as just a fraction of the size of the classic yellow metal.
The bull market is in full bloom so far in 2021 as risks recede, vaccinations expand, and trillions in additional stimulus prepare to roll out the door on a wave of rising economic expectations.
In that positive perfect storm, speculators have poured into the market, helping to drive fresh growth stories higher. While large caps are doing just fine, the breakout growth stories in the small-cap space have been particularly powerful, driving many moves offering life-altering gain potential over very short periods.
In the grand sweep of market history, investment environments like this are rare, and it pays to strike while the iron is red hot.
RIOT Stock Up 22% Yesterday, Riot Blockchain Appoints Jason Les as New CEO
Feb 10 2021 · 09:45 UTC | Updated
Feb 10 2021 · 09:58 by Ibukun Ogundare · 3 min read
Photo: Depositphotos
You have successfully joined our subscriber list.
The newly-appointed CEO said Riot is “extremely well-positioned” to make efficient use of the opportunities ahead of the company.
Bitcoin mining company Riot Blockchain Inc (NASDAQ: RIOT) has named Jason Les as its new CEO. Before his new appointment, Les served as an independent director on the company’s board for about four years.
Meanwhile, yesterday RIOT stock jumped 21.56% and reached the price level of $39.86. Today in the pre-market, teh stock is down 4.89%. Data provided by MarketWatch revealed that Riot stock has grown by 2,272.62% over the past year. The stock has climbed 134.61% in its year-to-date record and has advanced further by over 1,000% in the last three months. RIOT has surged nearly 65% over the past month and more