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MCS | Bitcoin surpassed 13K USD, what are the prospects of experts in the Bitcoin industry?

a month ago

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The strong momentum brought Bitcoin up to the point beyond 13K USD in the market over the last weekend. Blockchain and cryptocurrency industry experts are still optimistic about Bitcoin. In this post, we will look at the opinions of experts.

1. Galaxy Digital CEO Mike Novogratz: "We have crossed the rubicon people."

On the 21st, Mike Novogratz, the CEO of a crypto asset management firm Galaxy Digital and a billionaire investor, tweeted that "This PayPal News is the biggest news of the year in crypto. All banks will now be on a race to service crypto. We have crossed the rubicon people." Earlier this September, he also predicted that the price of Bitcoin will reach 50K or higher in the next two to three years.

2. America's famous venture capitalist Chamath Palihapitiya: "...Support(ing) Bitcoin. It's no longer optional...'"

Chamath Palihapitiya, a renowned Silicon Valley venture capitalist and chief executive of private space developer Virgin Galactic, tweeted that "After PayPal's news, every major bank is having a meeting about how to support bitcoin. It’s no longer optional..."

3. A famous cryptocurrency analyst Willy Woo: "We(Bitcoin holders) are now broaching the early adopter's phase."

According to Willy Woo, the present Bitcoin holders in the world is accounted for 2.4% of the world population, and he also mentioned that "we are now broaching the early adopter's phase." This indicates that more people will be entering the Bitcoin world, and the decoupling of BTC from the stocks will happen very soon.

4.Real Vision Group CEO Raoul Pal: "Microsoft and Apple will buy Bitcoin within 5 years."

According to cryptocurrency media channels, Raoul Pal, a global macro investor and the CEO of Real Vision Group, said that "Companies like Apple and Microsoft (MS) will buy bitcoin within five years." He mentioned that he will "be bloody surprised if some of the biggest firms like Apple and Microsoft do not invest in Bitcoin and not protect their capital from dollar devaluation." He also quoted that "I do think that Bitcoin is the cockroach that can’t be killed. I think it is something too powerful for even governments to overcome. And I think it is our life raft and our way out."

5. British Fintech Company Mode Global CEO Jonathan Rowland: "Bitcoin is a reliable store of value, and is rich in potential"

Jonathan Rowland, the CEO of a London Stock Exchange-listed fintech firm Mode Global Holdings PLC, quote "We faced Covid challenges and UK interest rates, the lowest in the Bank of England’s 326-year history. Thus, our confidence in the long-term value of Bitcoin has increased." and viewed Bitcoin as "a reliable store of value and attractive investment due to the asset’s asymmetric risk/reward properties and safe-haven status."

6. Bloomberg Report

According to the recent report of the 'Bloomberg Crypto Outlook", the price of Bitcoin to retest its all-time high of 20,000 USD and go as high as 28,000 USD in 2020. This appreciation is because of the rapid growth of Bitcoin as an asset in the era of the COVID-19 pandemic, the active purchase of Bitcoin from the market by institutional investors like the Grayscale Bitcoin Investment Trust (GBTC), and the rapid growth of Tether (USDT).

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Published a month ago