Bitcoin’s (BTC) popularity has skyrocketed in recent years and continues to this day. However, one of its downsides is its highly volatile price, and folks who are into this digital currency are well-acquainted about it. Financial experts are now talking about the BTC’s future and explain why they perceived it as such.
How they see it
Business Insider India sat down with four financial pundits out there as they talk about how they see Bitcoin in the foreseeable future.
James Ledbetter, the editor/publisher of FIN, expressed his concerns about the recently launched Chinese currency dubbed the Digital Yuan as he believes that this could affect Bitcoin. Ledbetter explains that if the new CBDC from China gains momentum and gets widely accepted, this would result in people veering away from BTC.
Token Bay Capital founder Lucy Gazmararian sees the digital currency in five years as “the world’s reserve asset.” She claims that signs of such can be seen today with corporates adding Bitcoin to their balance sheets. Gazmararian said, “Bitcoin is increasingly being viewed as ‘digital gold’ due to its scarcity value.” Crypto folks know for a fact that there are only 21 million Bitcoins across the interwebs, and so far, over 18 million of them have been mined. That leaves us with only 3 million more that have yet to be introduced in circulation.
Before you invest
The Chief Investment Officer at Pantera Capital – Joey Krug, on the other hand, talked about the younger people investing in BTC. He said that these people do it because they (younger people) “tend to hold assets farther out on the risk curve than other groups.
Krug even highlighted the following as he believes that newbies need to pay attention to these:
- Be reminded that Bitcoin could go as low as 70 percent
- Know also that its prices could also surge multiple times of that
- Figuring out an investment size that allows you to hold on to your BTC without worrying about those short-term price swings
Meanwhile, former actor and entrepreneur Brock Pierce got a positive outlook about the future of Bitcoin. He’s “very optimistic” about the future growth of such technology. This alongside some tirade about the U.S. government’s “poor monetary choices.”
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.