CNBC’s Squawk Box has played host to plenty of defining interviews over the years, with Dave Chapman’s appearance being the latest in a long list. Appearing after the CBOE Bitcoin futures opening, Octagon Strategy’s marketing director went out on a limb to say that Bitcoin could well hit six figures before the close of 2018. He also made a few other interesting claims regarding the cryptocurrency that will certainly have many traders talking.
Mainstream Acceptance Holds the Key
Chapman is widely known as a knowledgeable digital asset trader, so his word does carry a fair degree of weight. What Chapman is pointing to as the key to Bitcoin’s future success is mainstream acceptance, as its adoption on a global scale is what has the power to push it through the $100,000 barrier.
While some may scoff at this lofty prediction, Chapman has true belief that not only is it possible, it’s actually a realistic expectation, “In terms of looking forward, I would say that throughout the continuation into 2018, I wouldn’t be surprised to see a six-figure headline.”
Bitcoin could hit six figures before the close of 2018.
The price rise of Bitcoin stands for plenty, but Chapman argues that it’s not the most interest aspect of the cryptocurrency. Bitcoin – as it continues to mature – is becoming much more inclusive as a currency, which means that further access to financial applications should really be the bigger picture.
Chapman addressed this by saying; “The price to me is probably the most uninteresting component of Bitcoin. I’m more excited about the applications … about what this means to people who don’t have access to financial inclusion. And I think that if we focus on the price, we’re losing track of the big picture.”
Bitcoin ETF Coming?
Chapman was even willing to put his neck on the line as the interview came to a close, as he said that he would go on record to say that a Bitcoin ETF was on the horizon. With SEC approving the futures market, it’s clear that his statement certainly has some legitimacy behind it.
Representing something of an authoritative voice on Bitcoin trading, Chapman has been doing the media rounds as of late. Speaking on CNBC’s Squawk Box, Bloomberg Markets: Asia, CNN Money, and various other leading financial shows, it’s clear that he is willing to go out on a limb to vocally back Bitcoin’s growth. Looking to the future in more ways than one, Chapman’s words might just be worth heeding.
