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Jeremy Allaire The CEO of the Circle is convinced that Bitcoin prices will continue to grow
Jeremy Allaire, the CEO and co-founder of Circle has recently said that Bitcoin prices will continue to rise over the next few years. In his three-year forecasts, he also noted that the price increase of BTC would actually lead to a peak in all encrypted assessments. Circle, which is supported by Goldman Sachs is a company that focuses on payments of peer-to-peer technology.
Although Jeremy remained cautious in affirming a predicted price in his predictions, he predicted that the price of a single Bitcoin would be much higher than it is today. He went on to say that he is not in the business of price forecasts, but in his analysis, bitcoin it will be much higher than it is today.
In the interview conducted by CNBC, Jeremy said he had a futuristic view of the cryptocurrency market. When pressure is put on the factors that would make venture capitalists who lost money in the last bazaar of the bear want to return and reinvest, he commented emphasizing that the fundamentals associated with cryptocurrencies have not changed. The only thing that has changed is their prices, a fact that can be attributed to market forces.
BTC as a non-sovereign value reserve
Although its daily prices are subject to change, Jeremy is of the opinion that BTC continues to play an important role when it comes to storing value. This is made possible by the fact that the bitcoin is rather unique, something that can be seen on its scale as well as in the security measures it has put in place to safeguard its users.
Allaire went on to explain that Bitcoin can effectively play the role of a scarcity of scarce and non-sovereign reserves as its users may be able to keep it in a protected manner. This is something that over the years has proven to be attractive and be a hit with users all over the world.
Although there are many concerns that have come to claim that the bitcoin is on the verge of death, Jeremy is not convinced that it is so. According to him, the cryptocurrency is destined to survive the bear market, as well as other cryptocurrencies. In this way, they will end up being stronger and more precious for those who choose to keep them in the long run.
However, Allaire was quick to point out that not all of it cryptocurrencies existing today would do it in the long haul. The point is that overcrowded markets are often full of many competitive forces, making the market a zero-sum game. In short, the death or success of a single cryptocurrency does not always need to influence the success or fall of others.
Crypto's future lies in tokenising everything
Jeremy is of the opinion that the cryptocurrency market will not end up being a winner and takes the whole scenario. The reason is that cryptographic resources are destined to become the future of all that the world has at heart today. It can be seen in the fact that the current cryptocurrencies have practically assumed various financial assets already existing today.
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