Jeremy Liew Sees Bright Future for Bitcoin
In a recent interview, Jeremy Liew, the first investor in Snap Inc., made headlines by predicting that Bitcoin could soar to an astounding $500,000 by the year 2030. And just to clarify: that’s not an inflated price tag for a fancy digital coffee cup; it’s Bitcoin we’re talking about here!
Bitcoin: The Underdog Turned Superhero
Forgive any skepticism, but Bitcoin has had a rocky reputation since its inception in 2009. Yet, statistically, it’s been a powerhouse in the currency game—aside from a single mishap in one pretentious year. Who would have thought that Bitcoin, like a good wine, would age so well and become more stable over the years?
Less Volatility, More Stability
One of the most eye-catching shifts in Bitcoin’s narrative is its decreasing volatility. Remember the wild price swings that gave investors heart palpitations? Well, put those worries aside! It’s now emerging as a stable store of value. Think of it like the charming but reliable friend who finally got their act together—finally showing up to brunch on time.
Bitcoin as a Global Payment Network
In a world where we’re all more connected than ever, Bitcoin is shaping the way we transfer money across borders. The Philippines is leading the charge, having fully recognized Bitcoin as a legitimate form of remittance. Sounds fancy, right? Let’s just say that the Bangko Sentral ng Pilipinas (BSP) is taking a welcoming stance.
Practical Remittance Solution
As Liew and Blockchain CEO Peter Smith indicate, the portability and liquidity of Bitcoin make it an appealing choice for expats and everyone else who wants to send money home without parting with a fortune in transaction fees. Imagine being able to send money as quickly as texting your friend—talk about leveling up gift-giving on birthdays!
The Exponential Growth Factor
Liew forecasts that Bitcoin will reach 400 million users by 2030. With just around 20 million Bitcoin wallets currently active, this projection seems audacious—almost like proposing that a cat can be trained to fetch. However, with more awareness about Bitcoin’s advantages, like low fees and fast transactions, it may be more realistic than we think.
Market Cap Magic
Digging deeper into the math, Liew’s price prediction isn’t just a whimsical guess. He calculates Bitcoin’s future price tag by estimating a $10 trillion market cap spread across a limited supply of 20 million bitcoins. Perhaps finding the right price for Bitcoin is more like playing Monopoly than a magic 8-ball—there’s math involved!
Navigating Regulatory Challenges
Throughout this exhilarating rollercoaster ride, hurdles like the SEC’s ruling on Bitcoin ETFs have caused a few stomach drops. Liew and Smith weren’t taken aback by the SEC’s denial of the Winklevoss twins’ Bitcoin ETF application. They see Bitcoin’s maturity shining through despite these bureaucratic roadblocks.
What Lies Ahead for Investors?
As Liew aptly puts it: “The SEC’s ruling wasn’t a surprise to us.” He highlights how the current Bitcoin exchange market already offers plenty of liquidity for amateur traders. It’s hard to argue against a market that’s not just surviving but thriving as more products keep rolling out. So, for those thinking of dipping their toes into Bitcoin, it appears that may soon be as easy as scrolling through social media during your coffee break.
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