Wenzez Casares, who is on the board of PayPal, who also heads Xapo's custodial services for cryptocurrency , believes that the price of Bitcoin at $ 1 million is something we will see no later than 7 years later, but not later than a decade later.
At the same time, the investor said that this would happen if “Bitcoin succeeds”: he calculated cryptocurrency number 1 growth to this value based on the correlation between the growth in the number of owners of this digital asset and its price. According to his estimates, for $ 1 million in Bitcoin, it is necessary that investors in this cryptocurrency have at least 3 billion people.
He believes that those who invest in digital assets like Bitcoin need to be aware of the risks that are associated with this and also take a responsible approach to the money they are willing to spend. Meanwhile, Kazares also stressed that not investing in Bitcoins is the same “irresponsibility” as when investments are made without a proper understanding of risks.
In the case of successful development of Bitcoin, according to Casares, he, however, will not be able to replace the world reserve currencies – such as the US dollar.
Recall that earlier crypto-enthusiasts Nick Sabo said that Bitcoin could begin to replace gold and US dollars in reserves in several central banks of the world, and this year.
Kazarez said that cryptocurrency will still exist along with other reserve assets, but at the same time, Bitcoin will play the role of a “global standard of values and a means of settling world transactions, which will be more credible because either countries or international financial institutions. "
Well … he's right about one thing – Bitcoin will certainly be EXCEED $ one mil within 7 years. https://t.co/hTiP0v8Vmo
– John McAfee (@officialmcafee) April 15, 2019
An optimistic view on the price of Bitcoin in the future was supported by businessman John McAfee:
"Kazarez is right about only one thing: in 7 years Bitcoin will probably not just be at the level of $ 1 million, but will exceed this level."
However, some commentators noted that McAfee had previously predicted that Bitcoin would cost $ 1 million next year.
Publication date 04/16/2019
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