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2017-12-07 — cnn.com

Some leading economists and financiers are calling bitcoin a bubble and a fraud, but industry insiders say they think it's only going to get bigger as it gains more widespread acceptance.

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Bitcoin is also being driven higher by the hands-off approach many financial regulators seem to be taking toward the digital currency, Chapman said.

Japan's government, for example, gave bitcoin the seal of approval and started licensing bitcoin exchanges earlier this year.

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This month, investors will be able to start trading bitcoin futures via the Chicago Board Options Exchange and Chicago Mercantile Exchange.

New York's Nasdaq plans to launch its own bitcoin futures in 2018.

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Some industry insiders are incredibly bullish.

Arthur Hayes, CEO of Hong Kong bitcoin exchange Bitmex, predicts prices could hit a mind-boggling $50,000 by the end of next year, driven by the flow of money when institutional investors "pull the trigger" on investing in the digital currency.

Octagon's Chapman is willing to stick his neck out even further. He thinks it will go above $100,000 before 2018 is over.

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