Bitcoin predictions – famous people thoughts about the crypto coin
Since Bitcoin was created in 2009, its price has been really hard to predict because of the market’s volatility. There are some people who had no faith in crypto because they believed it was a scam. There were others that believed that in a few years Bitcoin would already replace fiat money. None of those predictions has come to pass yet but we have seen the highs and lows of Bitcoin’s price over the years.
Market experts believe that Bitcoin is going to still grow so much from here. The coin had already gotten to over $60, 000 earlier this year and that alone is an indication of its potential. Crypto experts believe that in the coming years the cryptocurrency can get to $200,000 per Bitcoin. Can you picture that?
For those that wonder if Bitcoin is a good investment or not, remember many great companies are already adopting Bitcoin as a means of payment. Many people are getting rich trading Bitcoin on platforms such as bitcoin-aussiesystem.io It also has the backing of various famous people and in this article, we are going to look at; what are some of their thoughts about Bitcoin?
CHAIR, U.S. FEDERAL RESERVE
“They’re highly volatile, see Bitcoin, and therefore not really useful as a store of value. They’re more of an asset for speculation. It’s essentially a substitute for gold rather than for the dollar.”
Powell stated this in March 2021. He says that the Fed calls crypto coins, “crypto assets.”
This is because of their volatility which undermines their ability to store value, which is the basic function of currency.
“Bitcoin is a very exciting development; it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.”
If Bitcoin gets to this level Kim is talking about, the lives of those who have invested in it is going to change. This is because more companies are going to accept payment via Bitcoin thus increasing its value. It is constantly going to be in the bull market and trading in it will be an assurance of good profit.
CEO, MICROSTRATEGY INC.
“Bitcoin is less risky than holding cash. Other private and public companies will likely get into Bitcoin. Right now, this is the only thing we can find with a positive real yield.”
Despite the world being in a pandemic, Bitcoin’s price had been surging impressively. It was a good investment as the coin’s value increased so steadily. If that’s the case in future, investors are not going to worry about what’s happening in the world as it might not have any impact on Bitcoin.
FOUNDER, BRIDGEWATER ASSOCIATES.
“To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment. There aren’t many alternative gold-like assets at this time of rising need for them.”
Bitcoin is already being compared to gold which for as long as we’ve lived has so much value. Some market experts believe in years to come the cryptocurrency might even be more valuable. It has a limited number of coins in circulation and so the scarcity is definitely a plus.
FOUNDER, THE SWEDISH PIRATE PARTY
“Bitcoin will do to banks what email did to the postal industry.”
Instead of people storing their money in banks, they would rather put their money in Bitcoin. In banks, the money is just sitting there not gaining any interest at all while in Bitcoin you’re assured of your money gaining profit over time.
“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value.”
Bitcoin is a unique creation and its value keeps increasing over time. There is no third-party involvement such as banks or governments. This factor alone is an encouragement to people that want fast transactions that could otherwise take forever in the financial institutions.
“Bitcoin actually has the balance and incentives right, and that is why it is starting to take off.”
Bitcoin is not going to lose value any soon but instead it is going to be more valuable. Since it was created it has only been showing intense growth. There is so much speculation going on in the crypto scene and that pushes more people to learn about cryptocurrencies.
In conclusion, these are only their opinions on how Bitcoin is going to be in the coming years. Do not invest your money just because people are talking about it too much but instead, do lots of research first. If it’s a good investment for you go for it so you don’t get left out in this interesting cryptocurrency.