Bitcoin Will Collapse In 2014 says BYRON WIEN

Blackstone Group vice chairman Byron Wien does not have a lot of faith in Bitcoin. Included on his list of annual “surprise” predictions is the possibility that acceptance of the digital currency collapses this year. “In 2½ years the price of a Bitcoin has increased from $25 to $975,” says Wien. “The supply of bitcoins is fixed at 21 million with 11.5 million in circulation. Bitcoins lack gold’s position as a store of value over time. During the year Bitcoin’s acceptance collapses as investors realize that it cannot be used…

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