Wences Casares is always outspoken about bitcoin and he is bullish on bitcoin in his recent blog. He shared his views and said that Bitcoin could reach as much as 250x in the future from its present value.
Bitcoin and other cryptocurrencies has potential to give tough competition to PayPal, But one of the board member said that he believes, bitcoin has a good chance to succeed and mass adoption in next decade.
One of the know Cryptocurrency wallet Xapo CEO and a PayPal board member, Wences Casares is very bullish on bitcoin in his recent blog. He shared his views and said that Bitcoin could reach as much as 250x in the future from its present value.
He also said,
"Bitcoin has at least a 50% chance of succeeding, If Bitcoin does succeed, 1 Bitcoin may be worth more than $1 million in 7 to 10 years. That is 250 times what it is worth today (at the time of writing the price of Bitcoin is ~ $4,000) "
He also explained, how you should keep bitcoin in your portfolio. He suggested that if you have a $10 Million portfolio, you should invest at most $100,000 in bitcoin ( upto 1% but not more as the risk of losing this investment is high). If Bitcoin fails, your portfolio will lose at most $100,000 or 1% of its value over 3 to 5 years, which most portfolios can bear. But if Bitcoin succeeds, in 7 to 10 years those $100,000 may be worth more than $25 million, more than twice the value of the entire initial portfolio.
Now the question arise, why not another cryptocurrency instead of Bitcoin?
He explained,
" There are about 1,000 cryptocurrencies that have at least one transaction a day. So why Bitcoin and not any one of those other ones? Over 60 million people own Bitcoin and over 1 million people become new owners every month. The other 1,000 cryptocurrencies have less than 5 million owners combined, so Bitcoin will add more users in the next 5 months than those 1,000 cryptocurrencies added in their combined history. Bitcoin is moving over $1 billion a day which is also more than all the other cryptocurrencies combined. "
Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.
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