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- In an interview with CNBC on Wednesday, Pascal Gauthier, the CEO, and chairman of Ledger stated that he believes individual investors will be the primary driving force behind the Bitcoin price increase.
- Gauthier believes bitcoin pricing is a retail trend and whales are growing number of addresses using the least amount of Bitcoin.
Given the price decline, CNBC anchor Arjun Kharpal asked the CEO of Ledger what else may push Bitcoin prices higher this year. In response to the question, the CEO and chairman of Ledger stated that he believes individual investors are the primary driving force behind the bitcoin price increase.
Bitcoin’s price has dropped rapidly in recent months, and it now stands at $43,950.45. BTC is presently 36.4 percent lower than its all-time high of $69,044.77 on November 10.
About Ledger
Ledger, established in Paris, is a leading manufacturer of crypto hardware wallets, which are compact USB drive-like devices used by retail crypto users who wish to ensure their funds are not compromised.
The market is currently small, with sales of $202 million expected in 2020. However, like with other aspects of the crypto industry, it is rapidly expanding, and Ledger, which has sold over 3 million devices, was valued at $1.5 billion in a June financing round.
Gauthier ideas about the market outside bitcoin
Gauthier had different ideas about the larger market outside Bitcoin, even going so far as to pick out a blockchain for praise.
Gauthier may be thrilled with Solana’s value offer, but the blockchain has not been without troubles in 2021, with a number of outages and technical concerns.
These are the issues that the Solana team will wish to solve as the project grows in 2022.
ALSO READ – KIM KARDASHIAN, FLOYD MAYWEATHER ACCUSED OF “MISLEADING INVESTORS” THROUGH CRYPTOCURRENCY PROMOTION
What you’re seeing today is a retail trend in bitcoin: Gauthier
While Gauthier sees positive micro trends as a piece of excellent news for bitcoin. According to Valdrin’s “BTC prices may be on the approach of bottoming out”, since both the MACD and the RSI have risen.
Gauthier remarked “What you’re seeing today is a retail trend in bitcoin,” he added, “Whales are using the least amount of bitcoin while growing the number of addresses.” As a consequence, I feel you’ve created a worldwide shopping trend. It simply means that more people are accepting bitcoin. Also, they have more trust in digital assets like bitcoin, and it is people who will drive bitcoin’s price upward.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
