The idea of cryptocurrencies has been around for a while. Peter Thiel, a very famous venture capitalist, and hedge fund manager, gave a talk in 1999 that discussed the possibility of monetary sovereignty, and further, the possibility in rise of encrypted money.
Last weekend at the Thiel Foundation Under 20 Summit in New York City, Thiel himself was asked about encrypted money.
“I do think bitcoin is the first one of these that has the potential to do something like that,” he said. “It is worth thinking about money as the bubble that never ends. There is this sort of potential that bitcoin could become this new phenomenon,” he continued.
With attention from big-time investors, we could be looking at a bullish market in the coming months.