- Brock Pierce believes that Bitcoin is likely to hit $ 100,000 next year and there are even cases where the cryptocurrency will hit $ 200,000.
- Pierce says much of Bitcoin’s price movement will depend on external market factors, such as the rate of inflation following this year’s mass money printing.
Bitcoin is ending its highest year on a sharp note. As CNF reported, December is becoming the worst month since May, despite reaching a new full – time high just a few weeks ago. But according to Brock Pierce, this is just a regular market cycle and we will be back in the near future. The president of the Bitcoin Foundation believes that Bitcoin could reach $ 200,000 next year.
Pierce joined Cheryl Casone on the Fox Business Morning show with Maria, where she discussed the current market, the effect of altcoins on the price of Bitcoin, regulations, and the future of the king of cryptocurrencies.
#Crypto there will always be ups and downs. But, if we look back 10 years or even 2 years, the highlights are far more important for those who are committed to the journey.⚡
– Brock Pierce (@brockpierce) December 29, 2021
As for his prediction of the price of Bitcoin, Pierce did not hold back, arguing that $ 100,000 is up for grabs and could even go up to double that number.
It would not surprise me if the price of bitcoin exceeded $ 100,000 next year. One can even imagine that it could top $ 200,000 for a minute and probably fall again.
Much of this, however, depends on external factors. Pierce told Fox “we have a huge amount of printed currency in the world. What will we see in terms of real inflation?
It must be remembered that it is an alternative asset, and not a hedge per se really like gold or real estate, because it has more risk and more volatility, but also a much more interesting profitability profile. Depending on the financial uncertainty in the wider financial system, that is the main motivation.
Altcoins, regulations and dot-com bubble
As Bitcoin struggles, some altcoins still have a successful year. As a result, many are claiming that it is the money going into these alternative cryptocurrencies that is missing Bitcoin and that could bring the crypto pioneer to the moon.
Pierce agrees. Without altcoins, the Bitcoin market cap would be more than double what it is now, he said. However, they are critical to Bitcoin’s success and are solving challenges that Bitcoin believes it may not.
“Bitcoin is like digital gold. Ethereum’s idea was ‘can we create programmable contracts?’ «
Like the internet in 1999, there will be a few that will last, as Amazon and Google did, but the vast majority of altcoin projects will go under when this dot – com bubble bursts. «
And while the president of the Bitcoin Foundation believes that Bitcoin has been proven to be digital gold, Bitcoin’s white paper describes it as «peer – to – peer electronic money.»
Pierce has made a name for himself for a number of different projects. He started out as a child actor, appearing in Disney movies as The big ducks Y. First Kid. He was one of the first people in the world of cryptocurrencies and is the founder of Tether, although it came out later before he became the monster that he is today. He is also the co – founder of Block.one, the company behind the EOS project. In 2020, he ran as an independent candidate for the presidency of the United States.