Bitcoin Bro Trolls the Sh*t out of the Federal Reserve on Live TV

(ANTIMEDIA) Washington, D.C. — As further evidence that interest in cryptocurrencies like Bitcoin is currently booming, consider these opening lines from a CNBC article on Wednesday:

“An unidentified man held up a sign saying ‘buy bitcoin’ during Fed Chair Janet Yellen’s testimony Wednesday before the House Financial Services Committee.

“Bitcoin subsequently climbed toward session highs and traded 3.7 percent higher, at $2,418.46, as of 2:27 p.m. ET, according to CoinDesk.

The incident was caught on camera, and the Bitcoin supporter was escorted from the hearing room on the grounds that the sign violated House Committee rules. Yellen herself didn’t comment on the subject of cryptocurrencies during her testimony.

While many would undoubtedly applaud — and maybe even chuckle at — the man’s actions, CNBC itself points out in the article that it’s not as if Bitcoin really needs free publicity.

Last week, former JPMorgan Chase chief equity strategist and co-founder of Fundstrat Global Advisors, Tom Lee, laid out his predictions for where the price of Bitcoin is headed. And in Lee’s view, it’s headed way, way up:

“We believe one of the drivers [of bitcoin] is crypto-currencies are cannibalizing demand for gold. Based on this premise, we take a stab at establishing valuation framework for bitcoin. Based on our model, we estimate that bitcoin’s value per unit could be $20,000 to $55,000 by 2022.”

Lee argues that the limited supply of Bitcoin — there are only 21 million available units — coupled with growing demand will continue to drive up the price. Lee also predicts that when the total market value of Bitcoin tops $500 billion, central banks will begin to consider buying in. And that, says Lee, may alter the landscape entirely:

“In our view, this is a game changer, enhancing the legitimacy of the currency and likely accelerating the substitution for gold (by investors).”

Also last week, Goldman Sachs’ head of technical strategy, Sheba Jafari, predicted Bitcoin could soon rise to nearly $4,000.

Creative Commons / Anti-Media / Report a typo

Since you’re here…

…We have a small favor to ask. Fewer and fewer people are seeing Anti-Media articles as social media sites crack down on us, and advertising revenues across the board are quickly declining. However, unlike many news organizations, we haven’t put up a paywall because we value open and accessible journalism over profit — but at this point, we’re barely even breaking even. Hopefully, you can see why we need to ask for your help. Anti-Media’s independent journalism and analysis takes substantial time, resources, and effort to produce, but we do it because we believe in our message and hope you do, too.

If everyone who reads our reporting and finds value in it helps fund it, our future can be much more secure. For as little as $1 and a minute of your time, you can support Anti-Media. Thank you. Click here to support us