Bitcoin Facing Decisive Year in 2018, Says Legendary Investor

Bitcoin is “still a very small market in the context of the larger financial world, but it has had a huge year,” McNamee said on “Fast Money.” We’ve done it around a speculative mania…”If a mania goes on long enough, it becomes self-fulfilling. Even after a crash, what follows is a legitimate industry.” McNamee compared it — favorably — to the dotcom bubble that occurred at the turn of the millennium, recognizing that although the bubble caused a brief recession it spawned a legitimate, transformative industry. The key, he said,…

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