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Thursday

26 November 2020

Michael Casey: Bitcoin Is the Biggest Big Short - CoinDesk

Michael Casey: Bitcoin Is the Biggest Big Short - CoinDesk


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It has been a huge week for bitcoin, whose price is now closing in on the all-time high it hit in 2017 and whose market capitalization has already surpassed the high of that period.

But in one very important way, this rally is quite different from that of three years ago.

He opined then on how this would unleash an entirely new economy in which pretty much every asset and product would be in play within a fluid digital marketplace that greatly improved price discovery and resource allocation.

In this piece he returns to his IoT thesis and offers a history lesson on how these shifts could massively disrupt different industries – in this case focusing on digitization in the airline industry. .

As I lay out in this week’s column, I think it’s overly alarmist to assume that the only way bitcoin “wins” is for society to go into dystopian meltdown

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