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James Altucher, Formula Capital managing director, and Spencer Bogart, Blockchain Capital managing director, break down what drives the bitcoin demand, its use and projected earnings.
Altucher notes that the largest exchange for Bitcoin, Coinbase, is adding 100,000 new customers per day.
"Overall, in the long run, there are 200 billion dollars worth of cryptocurrencies out there but there is 200 trillion dollars of demand for money out there. So if Bitcoin is truly solving the problems of paper and fiat currency, which I believe, you are going to see that 200 billion start to go up to 200 trillion."
Altucher concludes the price will keep going higher.
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