At least according to James Altucher.

Check out his interview on CNBC yesterday:

If are not familiar with James, a brief bio can be seen here:

"James Altucher is the Formula Capital and Stockpicker.com managing director.James Altucher is an American hedge fund manager, entrepreneur, best-selling author, venture capitalist, and podcaster. He has founded or co-founded more than 20 different companies, including Reset Inc. and StockPickr. He has published eleven books, and he is a frequent contributor to publications, including The Financial Times, TheStreet.com and TechCrunch."
(Source: https://en.wikipedia.org/wiki/James_Altucher)

Besides all of that he has become somewhat of a bitcoin aficionado over the past few years as many of his predictions and expectations have turned out to be true.

According to James, why is regulation good?

James says regulations will prove to ultimately be good for the market for several reasons.

The first being that regulations will help people feel much more safe entering the cryptocurrency space.

Just about every week we hear about someone who was hacked or an exchange that was hacked and funds were lost.

Right now there is not much recourse for something like that.

As regulations come out and reserve requirements are instituted for exchanges and they are properly insured, many of those types of risks will go away.

Increased regulations will also allow institutional money to enter the space.

Some people may think that institutions are not involved in the cryptocurrency space because of the volatility.

While that may be part of the truth, it's not the whole truth.

Many of the institutions sitting on the sidelines are simply prohibited from entered unregulated markets and participating on unregulated exchanges.

Simply too much risk.

Once things get properly regulated, not only will mom and pop feel safer dipping their toes in, but big institutions will be able to enter in a meaningful way as well.

What inning are we currently in of the bitcoin game?

According to James, we are currently in inning zero, or possibly even before inning zero. The rules and regulations of the game haven't even been written yet.

Which means the game hasn't really even started yet.

Bitcoin's not going to be made illegal (according to James), it's going to be regulated and when it finally does and all the rules are written, adoption of bitcoin as an asset class is going to explode.

People out there are going to say they need some exposure to this uncorrelated asset class and the value of it is going to absolutely explode.

For that reason James says that $1,000,000 per bitcoin is possible by the end of 2020, even after this rather large correction.

No that was not a typo, $1 million dollars two years from now is possible according to James.

I am not sure I am that optimistic but a lot of what he is saying makes sense.

Give the video a watch if you haven't yet. It offers an interesting perspective from a smart guy.

Stay informed my friends.

Follow me: @jrcornel