In an interview with Bloomberg, stock picker Ronnie Moas recently revealed that he believes the value of bitcoin will double in the next year, and that a single coin could be worth between $ 25,000 and $ 50,000 over the next decade.
Ronnie Moas, founder of Florida-based investment firm Standpoint Research, has made over 900 stocks in stock recommendations over the past 13 years and has now decided to venture into the world of cryptocurrency recently, in his own words, It began with the purchase of "a little" of litecoin, bitcoin and ethereum in Coinbase.
In another sense, Moas believes that confidence in other investments will deteriorate and, as such, more people are presumably entering the ecosystem of cryptocurrency. He stated: "There are only 21,000,000 bitcoins in circulation and the world will struggle to acquire those 21 million coins, this is because confidence in the fiat currency and other investments deteriorates. I have little doubt that 1% of cash, bonds, stocks and gold will end up in cryptocurrencies. "
In base to his idea, Moas did not rule out the possibility of a bubble, stating that he is, "a little worried that there may be a bubble in the short term." However, its prediction is still standing, as it is based on bitcoin demand and in the long run, the stock analyst says there is potential for three-digit returns.
As we know, their three-digit declaration is based on the fact that, for now, cryptocurrencies are not yet appreciated to a large extent, and as soon as they are massively collected or acquired, things could change. He stated that the total market cap of cryptocurrencys is currently around 1% of gold and 0.1% of the stock market and cash. Since many people have gold in their wallets, and "seeing what their gold is doing for them is like seeing the dry paint," investors may soon turn it into cryptocurrencies.
The whole Cryptocurrencys market cap has risen beyond $ 100 billion this year and, although bitcoin's dominance has declined significantly, this has been attracting capital investors and increasing adoption.
In this way according to CCN, last week the chief analyst at Goldman Sachs also made a bullish prediction, stating that Bitcoin could fetch close to $ 4,000 by the end of the year. As you can see there are very good actions that can lead to bitcoin and blockchain along the path of prosperity, lack the political will of governments to promote policies that favor the democratization of the economy, this can be achieved with innovation and Creativity of the human being. New ads are expected.
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Free translation made by Alex Díaz
