RATE Group | Buy Bitcoin, Sell Your Altcoins, Says Pioneering Wall Street Blockchain Analyst
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Buy Bitcoin, Sell Your Altcoins, Says Pioneering Wall Street Blockchain Analyst

28 May Buy Bitcoin, Sell Your Altcoins, Says Pioneering Wall Street Blockchain Analyst

Posted at 00:14h in Bitcoin News by

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Bitcoin remains a strong buy despite recent losses, blockchain venture capitalist Spencer Bogart told CNBC yesterday, May 26. The cryptocurrency will trade “at least” above $10,000 by the year’s end, he added.

Bogart is a partner at major VC firm Blockchain Capital, and was reportedly the first Wall Street analyst to cover Bitcoin and blockchain, authoring a highly regarded blockchain industry report.

Bitcoin has now seen three weeks in the negative, its “longest running streak of losses since September 2017,” as CNBC’s interview intro noted. Despite this, Bogart outlined a bullish forecast for the long term, saying that:

“The long-term thesis is very much intact… The institutionalization of Bitcoin is absolutely occuring…Every major bank is trying to do something in the space. Either they’re going to be offering Bitcoin to their clients, they’re working on a custody platform or they’re opening up a trading desk.”

Bogart suggested however that many altcoins are…

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