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Coinbase Investment Chief Sees Bitcoin Experiencing 'South Sea Bubble-Type Move'
Bitcoin could be gearing up for a massive move up, according to Eric Peters, investment chief and CEO at Coinbase's Asset Management unit. Peters said in an Aug. 25 “Bankless” podcast episode that the cryptocurrency market, especially Bitcoin, had a 25% chance of experiencing a “South Sea bubble-type move” when asked how high cryptocurrency assets can actually go. The South Sea Bubble refers to a significant financial collapse that occurred in the 18th century, involving British joint stock firm South Sea Company. The company had a monopoly on supplying slaves to Spanish plantations in the Americas, promising ... (full story)
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