Former BitMEX CEO Arthur Hayes has predicted that Bitcoin will hit $1 million over the next 8 years. The expert expressed confidence that digital gold will overcome this milestone by 2030.
According to the expert, he fully agrees with the head of ARK Invest, Cathy Wood, as well as the manager of the MicroStrategy fund, Michael Saylor. According to the expert, the rate of the flagship cryptocurrency will definitely reach seven-digit values and this will happen quite quickly. Hayes also assured that the price of gold could also grow several times and overcome the $20,000 mark.
What is Grayscale Bitcoin Trust?
Since 2009, digital currencies have gone from an incomprehensible tool to a promising investment….
According to the expert, the rapid rise bitcoin from zero to a trillion dollar asset class happened in just one decade. This influenced the emergence of asset holders, the so-called “HODL culture”. The leading cryptocurrency has spawned a cult of followers who will not be selling their coins for any money in the next few years.
This is what should cause the BTC shortage. However, Bitcoin, in his opinion, will definitely find use cases, since miners will no longer be able to generate rewards after all the coins have been mined.
Therefore, network members will have to rely on transaction fees. That is why you will have to support a certain number of transfers in the network. Otherwise, the network hashrate will drop to zero, rendering the asset useless.
Hayes expressed confidence that in the footsteps of El Salvador and other countries will follow this example. Over time, more and more states will begin to accept the first cryptocurrency as legal tender. He predicted that this virus would spread exponentially.
Earlier edition informed that analyst Mikael van de Poppe shared his thoughts on the future of the flagship cryptocurrency. He is confident that bitcoin will rise in price to $500,000.