Bitcoin - New Asset Class ‘First in Hundreds of Years’, Max Keiser

Max Keiser has agreed with CME Group’s Chairman Emeritus Leo Melamed that Bitcoin is a “new asset class.”

Describing as the “first new asset class in hundreds of years,” Keiser’s bullish investment stance on the virtual currency has gained serious weight as CME prepares to launch futures trading this month.

This is why 99% of pundits get it wrong. #Bitcoin is the first new asset class we’ve seen in hundreds of yrs. pic.twitter.com/OTObTN71VW — Max Keiser (@maxkeiser) November 7, 2017

Melamed had told Reuters that his open stance to technology was obligatory and that Bitcoin represented the need to “examine change.”

“My whole life is built around new technology. I never said no to technology. People who say no to technology are soon dead, I’m still that same guy who believes in at least examining change. That’s what Bitcoin represents.”

CME Group’s decision to interact with Bitcoin came with significant repercussions, prices rising dramatically and many heralding a watershed moment for cryptocurrency’s reputation.

Melamed himself described the move as “a very important step for Bitcoin’s history.”

“We will regulate, make Bitcoin not wild, nor wilder. We’ll tame it into a regular type instrument of trade with rules,” he continued.

His comments come the same week as Goldman Sachs forecasts a further price jump to almost $8,000 for Bitcoin, despite fears of price volatility and network disruption following the SegWit2x hard fork.

“The market has shown evidence of an impulsive rally since breaking above 6,044. Next in focus $7,941. Might consolidate there before continuing higher,” a note to investors read Monday.