Thursday, 4 August 2011

Betting on Bitcoin To The Tune of $10,000!

I'm obviously enthusiastic about bitcoin and hope it will one day attract from beyond the fold of geek and libertarian folk to widespread use across the globe. With the Euro on shaky ground, and getting shakier every time a Eurozone politician opens their mouth to say their country's economy is doing fine and doesn't need bailing out, thank you very much (Berlusconi being the latest, which means we can probably look to Italy to default unless more euros are printed and thrown at it - or at least the banks doing business in it); with the dollar only rallying and looking stronger today than it has done in months because Japan is deliberately devaluing the yen to in order to help fund the rebuild of that country after the natural (and nuclear) disasters that hit both the lives and economy of its people; and with gold surging to new highs every time you blink or exhale...

Well, let's just say it doesn't take an economics genius to see that things aren't looking good. But one man, Roger Ver, CEO of, is so convinced that the global economy is destined for disaster, that he's willing to bet that, bitcoin will ride to the rescue, essentially becoming the financial safe haven of the future, by outperforming the stock market, precious metals, and the US dollars. In his words:
"I'm willing to bet $10,000 USD or equivalent in bitcoins, that over the next 2 years, Bitcoins will not only outperform the stock market, Gold, Silver, and the US dollar, but Bitcoins will do it by more than 100 times."
He's serious too! The challenge is open to any bitcoin naysayer willing to put their money where their mouth is and publicly (on stake ten big ones on bitcoin beating equities, gold, silver and the US dollar. The winner will get to donate $10,000, or the equivalent in bitcoins, to the charity of their choice.

No comments:

Post a Comment