‘Using Smart Bitcoin like Dumb Assets is akin to buying a Ferrari and pushing it Around Town’

Reggie Middleton rose to national prominence when he accurately predicted the failure of Bear Stearns and Lehman Brothers and his BoomBustBlog became required reading of analysts, investors and the financial media.

Having built a reputation as a radical financial thinker with guest appearances on CNBC and the Keiser Report just to name a few, Middleton turned his attention to Bitcoin in 2013. Now he's launching Veritaseum, a Bitcoin solution which aims to disrupt the traditional financial services model by eliminating the need for middlemen.

Cointelegraph spoke to Reggie Middleton to discuss his background, his solution and where he thinks the Bitcoin industry is headed.

“Several clients asked me to look into Bitcoin, and when I did my jaw dropped.”

- Reggie Middleton

Reggie Middleton

Cointelegraph: Your personal journey to where you are in the Bitcoin Community today was an interesting one – can you talk a little about that?

Reggie Middleton: I struck out on my own at age 23 creating mutual fund arbitrage programs, selling risk management and insurance programs to municipalities, creating dot.coms during the frenzy (basically, the first version of Google Docs 20 years before its time), and creating fundamental analysis software. I was (and still am) a full-time dad raising three children. I bought distressed real estate in downtown Brooklyn in 2000. The fundamentals were in place, liquidity via loose lending standards, optimal pricing (distressed only) and quantitative metrics were prime (the bubble was just getting on its way).

“[I] schemed on shorting each and every financial institution that ever did business with me as I blogged about it.”

After a 1,200% return 5 ye