How High Can Bitcoin's Price Go in 2018?
Illustration by Aaron Fernandez for Fortune
ROBERT HACKETT , JEN WIECZNER
DEC 21, 2017 6:30 AM EST
Had Jerry Brito’s daughter waited longer to emerge, she might have been someone else entirely. In November, as Brito paced the hospital for 23 hours while his wife was in the delivery room, he floated an alternative name for the baby: “Ten Thousand.”
The founding executive director of the nonprofit Coin Center, Brito had spent years advocating for Bitcoin, arguing that the cryptocurrency, and the technology underpinning it, would dramatically change our economy, reshaping the world into which we’re all born. Now Brito was on the cusp of realizing two long-held dreams. Even as his wife went into labor a few days after Thanksgiving, Bitcoin was taking off as well. Worth $950 at the start of the year, its price breached $9,000 while Brito waited in the maternity ward. This explained why his daughter was taking her time, he began saying: “This baby does not want to be born in a world where Bitcoin is not $10,000.”
Alas, the price was only $9,600 when Brito’s daughter arrived early Nov. 27; the parents went with a different name. But Bitcoin broke $10,000 the following night. And in the newborn’s first 10 days on earth, it more than doubled again, grazing $20,000. In all, Bitcoin has seen a roughly 20-fold rise since the beginning of 2017, outshining virtually every conventional investment.
