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As the world’s flagship cryptocurrency, Bitcoin, continues to experience astronomical growth, seen at unprecedented levels, some top fund managers predict this could be just the beginning.
Jason Williams, Co-founder and partner of Morgan Creek Digital, an investment fund focused on digital assets, recently spoke about why he believed it was only a matter of time, that the world’s best-known cryptocurrency would at least reach the status of a million dollars.
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“Bitcoin could reach $ 1-3 million over the next 5 years. People have no idea what it will be like when big banks and countries start holding bitcoin in their treasury.
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To this, he also added that Bitcoin’s digital scarcity is a key feature in its continued growth in institutional settings. If you’ve read one of our previous articles on Bitcoin’s value, then you know that we at NBX believe that digital scarcity is the crux of Bitcoin’s value, as well as its efficiency as a diversifier, among other factors.
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“In other words, defining Bitcoin’s complete value proposition is a complex undertaking, which is why it is important to define the aspects that we haven’t mentioned yet.”
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What does it mean
An important factor that helps hedge fund manager bias is that flagship cryptocurrency is a way out in the future. It is scarce and can never be forged by the IMF or a single government, which means that it will always be scarce in principle.
Robert Breedlove, CEO of Parallax digitalals, also spoke via Youtube about Bitcoin’s safe haven properties.
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“Bitcoin is the first social institution in human history with laws that cannot be corrupted. There will never be more than 21 million Bitcoins, only the owner of a private key can move their Bitcoin and (if properly stored) Bitcoin cannot be forcibly confiscated. Bitcoin is the only money that resists embezzlement in a world increasingly under siege by governments “.
