“‘The thing about bitcoin that is so interesting is the addressable market here,’ said Miller, former chairman of Legg Mason Capital, on CNBC’s Closing Bell. ‘Gold alone has an $8 trillion market value, bitcoin has about a $7 billion market value, so if it’s only 10 percent as successful as gold you get 100 times your money.’ The noted stock picker said he started buying bitcoin personally after the Mt.Gox exchange collapsed earlier this year. ‘When that didn’t destroy, in essence, the underlying psychology of it, it looked to me like it probably had a decent base of around $500 per coin,’ he said.”
http://www.cnbc.com/id/101532377
Related posts:
Bitcoin: The currency that buys a pint one week but a TV the next
France drops law that makes insulting the president a criminal offense
Children are one of the 'War on Drugs' casualties
Ron Paul on Stossel: FEMA Causes More Harm than Good
German Court Releases Whistleblower from Psychiatric Ward
Here Is What Bitcoin Users Are Buying On Overstock.com
Health Care Just Became the U.S.'s Largest Employer
In Hong Kong, Placing Their Bets on Bitcoin
European envoy meets with Egyptian ex-president Morsi
WikiLeaks Bypasses Financial Blockade With Bitcoin
Developing Detroit: Billionaires say city is worthy of investment
Cuba looks to medical tourism to entice international visitors
Venezuelan Officials Visit Qatar to Pitch Cryptocurrency
Saudi Arabia Said to Ban Betting Against Its Currency
Chicago ‘Safe Passage’ routes put to test amid more shootings