I agree that Bitcoin is quite different. I think, due to the low market cap and low volume Bitcoin could behave very differently than other assets. No wonder, MtGox's two bots could push (manipulate) the BTC price up to 1K USD - that peek price was nothing to do with USD price nor with economics it was a pure manipulation.

On the other hand, despite Armstrong know very little about crypto currencies I thing he is absolutely spot on saying that governments have been just watching and waiting with regards to BTC. Once it gets bigger and disrupt the tax collection then governments will have a combined effort to take it down.