As the world’s flagship crypto – Bitcoin, continues to record astronomical growth, seen at unprecedented levels, some top fund managers anticipate this might just be the beginning.
Jason Williams, Co-Founder and Partner at Morgan Creek Digital, a digital asset-focused investment fund, recently spoke on why he believed it was just a matter of time, that the world’s most known crypto would hit at least the million-dollar status.
“Bitcoin could hit 1–3M dollars in the next 5 years. People have no idea what it will look like when large banks and countries start holding bitcoin in their treasury.
“To this, he also added that Bitcoin’s digital scarcity is a key feature in its continued growth across institutional contexts. If you’ve read any of our previous articles on Bitcoin’s value, then you know that we, at NBX, believe that digital scarcity is the crux of Bitcoin’s value, alongside its efficiency as a diversifier, among other factors.
“In other words, to pin down Bitcoin’s complete value proposition is a complex undertaking, which is why it’s important to nail down aspects of it that we haven’t mentioned yet.”
What it means
A major factor helping the hedge fund’s manager bias, is that the flagship crypto is a way out into the future. It is scarce and can never be forged by the International Monetary Fund or any single government, meaning it will always be scarce in principle.
Robert Breedlove, the CEO of Parallax digitals, also spoke via Youtube on Bitcoin’s safe-haven asset properties.
“Bitcoin is the first social institution in human history with laws that cannot be corrupted. There will never be more than 21 million Bitcoin, only the owner of a private key can move their Bitcoin, and (when properly kept) Bitcoin cannot be forcibly confiscated. Bitcoin is the only money maximally resistant to misappropriation in a world increasingly under siege by overreaching governments.”