Bitcoin will reach 250k

The central argument behind Bitcoin's rise and the need for CEO's to pay attention can be summarized in 7 ways:. As one can imagine, non-asset owners are the most vulnerable as they will be left behind.

Billionaire Tim Draper Stands by Bitcoin $250K Prediction: 'Buy the Rebound'

This major shift in thinking about the weakness of fiat currency will lead to a generational shift to more stable assets and restricted supply assets such as Bitcoin. As unlimited printing of fiat currency endangers the global financial system, forward thinking organizations will consider Bitcoin as part of their reserve asset strategy. Traditional corporate finance and conservative financial manager types have often moved to precious metals such as gold and silver as a hedge.

Pricing of these metals have been based on supply and demand. Bitcoin has a finite supply where only 21 million bitcoins that will ever be mined.

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As supply moves asymptotically to zero, the value continues to rise. When gold is compared to Bitcoin on supply alone, the limit of Bitcoin will make the cryptocurrency exponentially more rare in supply than gold. More importantly, Ross Stevens astutely pointed out that "Bitcoin is the first stored value asset and currency where supply is completely unaffected by demand. In addition to the value of Bitcoin in the long run, Ross Stevens pointed out a few other factors that make Bitcoin a better reserve asset today and a future open source decentralized value exchange network in the future:.

Bitcoin predictions for next year are flooding in, and they’re as bullish as always.

During the fireside chat, Ross made a compelling argument as to why organizations have and will continue to move their reserve assets to bitcoin. He asked a compelling question, "What do we have to believe to be true to move to Bitcoin for reserves? While many environmental activists and climate crisis promoters often see bitcoin as an energy hog, Ross Stevens ended the fireside chat with a conversation on how the energy used to mine Bitcoin could be used to create equity and societal good.

He and his firm estimated that the Bitcoins mined will consume about 10 million humans worth of energy.

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Stevens puts forth an argument that the the world has been challenged by not the ability to produce energy but with the ability to channel energy to the right geographical location. In the case of Bitcoin, the use of energy to mine a Bitcoin is a definable math problem, not a geographical problem.

He sees Bitcoin mining as the most efficient and profitable use of clean energy. Energy usage to mine Bitcoin and the related monetization do not require geographical constraints.

He imagines that countries with clean energy sources such as a hydro, geothermal, or wind can mine bitcoins anywhere and in hard to reach or under developed locations. The profits from Bitcoin mining could fund the infrastructure build outs for roads, clean water, connectivity, housing, and public health. Humanity can cluster around clean energy sources instead of waste those resources. As Stevens put it, "We used to move power to people. Bitcoin moves people to the power.

Bitcoin Could Hit $500,000, the Founder and CEO of Ark Invest Says

This development of abundant clean cheap energy coupled with manufacturing money from clean energy can fund a country's development and take emerging markets and developed countries into a more equitable and sustainable period of growth. Irresponsible over borrowing and printing of fiat currency has created a reflation trade crisis and perpetuated the equity crisis.

Indices in This Article. Dow Jones 33, Currency Exchange Rates. Currency Converter.

Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News Podcast Republic

Find News. The price decrease, recorded by the Asian crypto exchange Bitstamp, partially recovered as the day progressed, but the sudden decline was still shocking for those who become comfortable with the token's more modest price movements. In many ways, the selloff isn't that surprising. Despite the rapid price correction, some long-time supporters remain bearish on bitcoin. Buy the dip, buy the rebound.

Maybe ," Draper told TheStreet. His prediction is predicated on bitcoin's adoption as a working currency, not just a speculative asset. When markets began to move over the last few weeks, it looked like Draper's predictions might already be taking off. However, while bitcoin is definitely having a better year, it's unlikely to reclaim its all-time high, let alone Draper's lofty prediction, in one fell swoop. Many, like crypto advisory firm Delphi Digital, expect the token to have its share of ups and downs as it gradually ascends to new heights.

In a comment to TheNextWeb, the agency noted that "the road to new highs is likely to be littered with short-term run-ups followed by substantial, yet healthy, pullbacks.