A slow down in the growth of the money supply could push the price of Bitcoin to record highs next year. The web-based currency—which has been pitched as money of the future—is set to rise in price due to adjustments in the reward structure for mining set to go into effect in July.
As Reuters reports:
“[T]he price of bitcoin could test its 2013 highs of above $1,100 next year and then pick up speed to rise to $4,400 by the end of 2017.
That would be due to a number of factors… including an increased acceptance of payments in bitcoin by big companies and authorities, rapidly growing interest and investment in the “blockchain” technology that underpins bitcoin transactions, and also more demand from China as its currency weakens and the economy slows.”
In August, Reason TV sat down with New York Times reporter Nathaniel Popper to discuss Bitcoin’s rise and how libertarians have kept the dream of the decentralized currency alive.
“People were telling the libertarians to shut up,” says New York Times reporter Nathaniel Popper, “but they were the only ones willing to put their money on the line and keep Bitcoin alive.”