Dave Chapman, Managing Director of Octagon Strategies, has said he "wouldn't be surprised to see a six-figure headline" in 2018.
“It’s very hard to forecast Bitcoin (EXANTE: Bitcoin), especially when you have this asset class that was only trading at $900 in January, and it’s trading—at least in the first month of Bitcoin futures—at $16,000,” he said.
“In terms of looking forward, I would say that throughout the continuation into 2018, I wouldn’t be surprised to see a six-figure headline,” he said in an interview with CNBC.
Chapman also indicated that the most interesting aspects of Bitcoin were not its price, but its many use cases as the market continues to mature. He said:
“The price to me is probably the most uninteresting component of Bitcoin. I’m more excited about the applications…about what this means to people who don’t have access to financial inclusion. And I think that if we focus on the price, we’re losing track of the big picture.”
Chapman concluded the interview with a chuckle, saying that he would ‘happily’ go on the record to bet that a Bitcoin ETF was in the near future, as the Securities and Exchange Commission (SEC) has approved the futures markets.