US stocks got clobbered on Monday. Gold trended in the opposite direction, moving back above the $1,600 mark. And Bitcoin, the topic of conversation for those forward-looking tech geeks and up-to-no-good anarchist types, held steady above $30 per coin.
Hardcore proponents of the cyber currency don’t pay much attention to the day-to-day noise. It’s largely irrelevant, they reckon. When all is said and done…when the last of the 21 million or so coins are mined…that’s when the real fun will begin.
The currency is mathematically limited in supply. Provided demand continues to grow, the value of the coins will shoot up as fresh supply dries up and eventually…stops.
Speculation about the potential value of a single coin varies widely. We’ve heard wide-eyed forecasts running into the many thousands of dollars. That’s why enthusiasts are scrambling to build their stash now, before the price rockets.