Cryptocurrencies are not a fad. In fact, I believe they are the most significant monetary development since the US Dollar was made the reserve currency of the world in 1944.
DETROIT December 08, 2017
Today, Bill Poulos, CEO of Profits Run, Inc., announced his standpoint on Bitcoin and cryptocurrencies, “Cryptocurrencies are not a fad. In fact, I believe they are the most significant monetary development since the US Dollar was made the reserve currency of the world in 1944.” Poulos made his announcement after he witnessed Bitcoin’s value shoot to over $19k yesterday and as Cboe Global Markets releases the first U.S. Bitcoin futures this Sunday. Poulos went on to say, “We don't know the timing, but like many events in the world, everything is speeding up, so I believe the transition from the US Dollar to a cryptocurrency of some kind could happen sooner than later. It could be Bitcoin or something else – the specific cryptocurrency doesn't really matter – but some sort of cryptocurrency will likely prevail.”
On Thursday December 7, 2017 (at 4:32 PM), Bitcoin’s value briefly hit $19,230.7695. Yesterday, the Wall Street Journal reported that the Bitcoin currency value rose 40% in 40 hours. The WSJ said that this brings Bitcoin’s year-to-date gain to more than 1,500%.
Bill Poulos went on the say, “I believe they [the political and financial establishment] will eventually come to embrace cryptocurrencies, which has already started to happen if you look at the Cboe – a government-regulated exchange – that is launching futures contracts this month.”
This Sunday, December 10th, Cboe Global Markets is due to introduce the first U.S. Bitcoin futures. Cboe’s Chicago neighbor, the CME Group, Inc. is due to launch its Bitcoin futures on December 18th. Joining in with the Chicago brethren, NASDAQ, Inc., the New York based stock exchange, is preparing to unveil their 2Q 2018 Bitcoin based futures contract.
Cboe Global Markets is one of the biggest exchange holding companies in the world. Cboe’s headquarters are in Chicago. The corporation also has offices in Kansas City, New York, London, San Francisco, Singapore, Hong Kong and Ecuador.
CME Group, Inc. (Chicago Mercantile Exchange & Chicago Board of Trade) is a financial market corporation. CME operates a futures and options exchange. It boasts itself as, “the world's leading and most diverse derivatives marketplace.”
Bitcoin is a cryptocurrency that was created in 2009. Bitcoin was created by a person under the pseudonym Satoshi Nakamoto. Transactions are made without middlemen. This means no banks are involved and there are no transaction fees.
Bill Poulos is a veteran financial educator. He is co-founder and CEO of Profits Run, Inc., a financial education firm.
Ending his announcement on cryptocurrencies, Poulos remarked, “It's going to be an interesting ride, and I look forward to witnessing it.”
About Profits Run, Inc.
In 2001, Profits Run, Inc. was established by father and son duo Bill and Greg Poulos. Profit’s Run earned its namesake from a popular saying amongst traders, “Cut your losses and let your profits run.” Profits Run’s mission is to show people a simpler and safer way to invest their money.
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