Confessions XX: Is Bitcoin going to a Million Dollars? (Apr 2005)

Send us a text Hedge fund manager, Hugh Hendry, invites his former colleague Tom Roderick, the manager of the Trium Macro Hedge Fund, to review this week's crash in cryptocurrencies. They draw parallels with the tech bubble of the late 1990s and the pyramid of leverage that lay behind the housing bubble in late 2006. They discuss bitcoin's coming of age. With values soaring past one trillion dollars, crypto is no longer a cheap out-of-the money call option on currency debasement. Downside vol...