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November 19, 2013 07:37 am GMT

(Mostly) Believe The Bitcoin Hype

urlAccording to Mt. Gox Bitcoin hit a high of $900 in the past few hours, something that even the frothiest of supporters will agree is ludicrous. This is a bubble and it won't be pretty when it pops. That said, I would argue that Bitcoin bullishness is fine but ignores the platform's potential as a weath transfer medium. In short, what is happening now is indicative of a level of interest that will rocket the BTC out of the realm of cranks, goldbugs, and hobbyists and into something far more powerful.

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