CEO of Circle: in 3 years Bitcoin [BTC] is "Of course it will be worth a great deal more than it is today"

Despite the sharp decline in the price of Bitcoin (BTC) and the rest of the cryptocurrencies, there are still good reasons to be on Bitcoin for a long time. This is what Jeremy Allaire, CEO of Circle, said in an interview for SBCW Box of CNBC.

For Mr. Allaire, the fact that there is an increasing number of users is a sign of the fundamental value of this cryptocurrency and is one of the reasons to believe that both Bitcoin and Ethereum are now oversold.

Allaire firmly believes that blockchain technologies will play an essential role in how the business will be conceived in the future. For the man behind Circle, the day when all valuable assets have a token running on the blockchain is near.

He also commented that from his point of view the United States has a solid regulatory system when it comes to encrypted money, however, there is a need for greater clarity in discerning which encrypted ones are cataloged as commodities and which titles.

There are many reasons to be long on Bitcoin (BTC)

TThe CEO of Circle also explained that Bitcoin has a number of important features that ensure that its value will increase over time. For Allaire, the fact that it is a resource with global appeal is a key to keep in mind when making forecasts for the future beyond time contraction that the markets are suffering.

"The key thing with bitcoin is [that] It is unique for security and size. And as an idea we need a little [and] non-sovereign value reserve that individuals can hold and store in a secure way, [Bitcoin] It is attractive all over the world. "

Allaire also commented that he does not have the courage to make concrete predictions about the future price of Bitcoin, especially considering that many have tended to fail, but he was sure to point out that at least for a period of three years "It will certainly be worth much more than it is today."

Circle is a peer-to-peer payment technology company founded in 2013. It received over $ 135 million in venture capital from 4 rounds of investment from 2013 to 2016. In February 2018 Circle bought Poloniex for $ 400 million.

The complete interview of Mr. Allaire is available here