'Any number of catalysts could send bitcoin exploding higher,' says blockchain venture capitalist

July 26, 2018

 

"Any number of catalysts could send bitcoin exploding higher," Spencer Bogart, a partner at Blockchain Capital, told CNBC on "Fast Money" Wednesday.

Those catalysts include global trade tensions, the possibility of a bitcoin ETF, rising currency rates and Mastercard's recent announcement of a new patent that could allow bitcoin transactions on credit cards. "Bitcoin is kind of a tinderbox right now, waiting for reasons to go higher," said the venture capitalist. Bitcoin (BTC) is down 1.34% over the past 24 hours and is currently trading at $8,197.55 on Coinbase.

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