DTC? Try BTC, Brian Kelly Tells CNBC Viewers in Mainstream Bitcoin Shill


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5 HOURS AGO

 

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William Suberg

DTC? Try BTC, Brian Kelly Tells CNBC Viewers in Mainstream Bitcoin Shill

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Bitcoin is going to “Amazon the banks,” CNBC host Brian Kelly told viewers Monday in a mainstream plug for the cryptocurrency.

As part of the network’s Fast Money segment, Kelly, who is a well-known proponent of Bitcoin and frequently advises investment, outlined three reasons why consumers should buy now.

“Demonstrated demand for the product” and a “massive addressable market” are the two other key factors making Bitcoin a good bet, Kelly explained.

“Amazon comes in, they go direct to the consumer… ‘DTC,’” he said. “Well, this is ‘BTC’ - the Bitcoining of the banks.”

Kelly has become increasingly vocal on Bitcoin’s virtues in recent months as the cryptocurrency reaches new all-time price highs time and again.

Even during the fallout from China’s trading and ICO ban when prices halved, Kelly remained steadfast in his support, giving CNBC viewers hints as to the perfect floor to buy more. At the time, that was $3,600 - around 65 percent of today’s price. He continued:

“Now I have a product that people want in a market that is massive and there’s a disruptive technology going on. To me, those are the three elements of any investment that I want [...] It’s one of the best investments out there.”


As Bitcoin celebrates its ninth birthday, prices continue to delight investors big and small, retesting all-time highs of $6,300 seen just this weekend.

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4 HOURS AGO

 

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William Suberg

Bitcoin Hits New All-Time High as CME Group Announces Futures Trading

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BREAKING NEWS

Bitcoin has hit new all-time price highs on its ninth birthday today as CME Group announces futures trading.

Investors still celebrating the weekend’s record-breaking $6,300 have little to fear this Halloween as renewed momentum coming from CME takes Bitcoin within reach of new heights.

We're launching #Bitcoin futures to provide a regulated trading venue for the #digitalasset market. https://t.co/5RRvVCGtjBpic.twitter.com/zcbCAUriUd

— CMEGroup (@CMEGroup) October 31, 2017


The move appeared broadly expected Tuesday even without the news, analyst Tone Vays and investor Max Keiser both predicting imminent peaks.

$7,000 staring us in the face. #Bitcoinpic.twitter.com/SHKAJB4lg0

— Max Keiser (@maxkeiser) October 31, 2017


According to data from Bitcointicker, Bitcoin advanced 2.1 percent in the 24 hours to press time to hit $6,300.

The latest surge, which began late last week, initially pulled major altcoins along with Bitcoin, but the trend has since faltered.

Bitcoin Cash, in particular, has reversed the top of its gains which saw the fork hit multi-week highs approaching $500.

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