Bitcoin Forum

UK Hedge Fund Manager says Bitcoin could hit $1 Million

U.K.-based hedge fund manager Hugh Hendry, the founder of Eclectica Asset Management, made some interesting comments about how he thinks Bitcoin could go to $1 million, Investment Week's Dan Jones reports.

http://www.businessinsider.com/hugh-hendry-bitcoin-could-hit-1-million-2013-12#ixzz2mWwXWByB

http://www.investmentweek.co.uk/investment-week/news/2310184/hendry-i-would-buy-bitcoin-if-i-could


here is a little "good-night" story from LiteCoinGuy for you  ;D

This is why if the Winklevosses ever get their ETF approved Bitcoin will really take off due to competition among hedge funds for a slice of the rate of return on Bitcoin.

How many months away are we from that?  6, 10?

Bullish. Hugh Hendry is a smart guy who has made some good calls based on thorough analysis. If he says it could go to a million, it could.  And he is not the first to arrive at such numbers either ....

Yes it was - unfortunately we had to wake up to the "red dawn"...   :)

A Hedge Fund manager thinking positively of bitcoins,that's good for a change as many if not most of the others say things like "I don't know about it" or "it's not backed by a country/bank so it's not worth it".

ZeroHedge covered this as well, and I find it interesting that they LOVED Hugh Hendry when he was bashing the ECB and the Euro project, but he lets slip one word about liking Bitcoin, and now the gloves are off over at ZH. They're disowning the guy because he likes Bitcoin, and it disgusts me.

The "Tylers" over there are just a bunch of financial shills, and they all probably work day jobs for major investment banks. It shows.

Exactly. Bitcoin has the unique property that it quickly the separates the wheat from the chaff in all dealings financial ... the honest and dishonest are made immediately plain.

I don't know quite how far I trust either of them, although I perhaps sometimes overdo my healthy skepticism.

To me, the Hugh Hendry story is summed up as "FORMERLY UNREMITTING BEAR DECIDES TO GET UP AND DANCE". These hedge fund guys are so rich that the idea of doing a little bit of media-based theatre/ market shilling to suit the preferred overall narrative is hardly unlikely. Will this lead a few dedicated bears into a bull trap? Psychological management of the broad economic/financial narrative via the media seems pretty widespread, and in it's way just as important as the same job that's done with the rest of the news. And Hugh does get about in the media, he's a bit of a "personality", which makes me a little hesitant at taking everything he does at face value.

ZeroHedge are basically "ear-to-the-ground, word-on-the-street bears.com". Their tagline says it all, really. If it's bearish and gold-buggy, ZeroHedge have it covered.

sorry for that, not my fault :)