Get out your dancing shoes ladies and gentlemen.
Think tech stocks, think NASDAQ, think the internet.
That's right, in a statement out from Ronnie Moas yesterday, he said he thinks this is just the beginning of the adoption curve for cryptocurrencies.
In his words:
"This looks to me as though we are at the same point in the adoption curve as we were in 1995 when we went from one million internet users to ten million internet users."
A 10x increase, that sounds nice.
However, don't forget what happened next:
"The following year the Netscape browser came online and we went from 10 million internet users to hundreds of millions of users overnight."
Now we are talking!
For one, he has a great last name. In stock circles, MOASS stands for Mother Of All Short Squeezes. So, with Moas, he certainly has got the right name for the industry.
He is an independent stock researcher that has long made great calls for his clients predicting macro stock trends.
Regarding cryptocurrencies, he called for Bitcoin to hit $5000 this year a few months back, before many of the others have made a similar call more recently.
I wrote about him a little back then, it can be read here:
https://steemit.com/cryptocurrency/@jrcornel/what-if-cryptocurrencies-reach-1-of-the-total-capital-markets
In fact, you can probably remove that "basically" word as he has in fact gone all in on cryptocurrencies.
He stated yesterday that 100% of his investments are in cryptocurrencies. With the largest investments being Bitcoin and Ether.
This is unusual for him because in the past couple decades of being a stock research analyst, he rarely, if ever, bought the stocks he would recommend.
This is the first time he is actually putting his money where his mouth is, and that speaks louder than anything in my opinion.
According to Moas, what's happening right now is simple:
"What's happening is the floodgates are opening. I believe there are hedge fund and very deep-pocketed individuals getting into this now, really hundreds of millions of dollars."
Then you can factor in people in less developed countries buying in to protect their wealth against wildly fluctuating local currencies.
"You can't look at this like a normal situation. We are looking at an industry that will probably go from $140 billion to over $2 trillion in the next couple years."
For those reasons, he is happy putting his entire investing portfolio in the space, although he is the first to caution against leaving all of it on a single exchange.
Stay informed my friends.
Sources:
https://www.cnbc.com/2017/08/14/standpoints-ronnie-moas-raises-bitcoin-price-target-to-7500.html
Image Sources:
https://twitter.com/ronniemoas
https://humblestudentofthemarkets.com/2016/08/14/party-like-its-1999-or-1995/
http://moocnewsandreviews.com/moocs-for-credit-udacity-and-sjsu-crack-open-the-flood-gates/
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