Mark Fisher View On Bitcoin and Silver

Mark Fisher, the legendary founder and CEO of futures clearing merchant MBF Clearing, claims that there is a same trajectory between Bitcoin and Silver as quoted at the CNBC Fast Money: Halftime Report:

Bitcoin was what silver was back in the late ’70s and ’80s — for sure,

 

The reason people are so attracted to bitcoin is because people want something that’s actually moved dramatically,

 

Bitcoin was what silver was back in the late ’70s and ’80s — for sure,” he said. ” “No rhyme or reason.

 

The reason people are so attracted to bitcoin is because people want something that’s actually moved dramatically, that there’s no Wall Street to it,” said Fisher. “The thing that every cab driver is talking about all day long.

Some history lesson on Silver.

  • January 1970 – An ounce of silver traded at $6.08 on average.
  • 1970 to 1979 – An ounce of silver double in value.
  • 1979 – Silver quadrupled in value.
  • January 1980 – An ounce of silver traded at $49.45 at an all time high or $111.84 in today’s dollars.
  • 2001 – An ounce of silver retracted back to $4.05.

Will we see this to Bitcoin and cryptocurrencies in the future?

Source: CNBC