Strategist Bob Doll: Bitcoin Price Run Has Been ‘Amazing,’ but Feels ‘Speculative’

The recent price rally of bitcoin has been nothing short of ‘amazing’, according to Bob Doll, a strategist who has been closely watching market prices unfold.

On Sunday, the digital currency entered the $9,000 barrier for the first time, before pushing toward $9,500. On Monday, trading saw its price reach $9,790, while Tuesday trading has seen it reach even higher, pushing it to $9,956, according to Coinbase.

As a result of this upward trajectory, since the beginning of January, bitcoin’s value has increased by nearly 900 percent.

However, despite this, Doll, Nuveen Asset Management’s chief equity strategist, said in an interview with CNBC’s ‘Worldwide Exchange‘ that:

I confess it’s an area of that to me feels speculative, but you might call me old or old-fashioned. It’s been an amazing run, has it not?

With the digital currency continuing to hit new heights during 2017, many critics have come out voicing their opinion of the market. Jamie Dimon, JPMorgan Chase CEO, said in September that bitcoin was ‘a fraud,’ before later adding that it was ‘worth nothing.’ Interestingly, the Wall Street bank is now considering offering its clients access to CME Group’s bitcoin futures contracts when it launches next month…

Read Full: Strategist Bob Doll: Bitcoin Price Run Has Been ‘Amazing,’ but Feels ‘Speculative’