Chief Economic Advisor at financial services company Allianz, Mohamed El-Erian, told CNBC today, June 29, that he thinks Bitcoin (BTC) will eventually be treated as a store of value – and that he would consider buying if the price hits $5,000.
While El-Erian reports currently not owning any Bitcoin, the influential economist said he would consider buying at the $5,000 price point, explaining that his reasoning as being based on a “gut feeling.”
El-Erian dismissed Bitcoin’s skyrocketing prices in late 2017 as “pure speculation,” fuelled by people jumping on the crypto “bandwagon,” adding that:
"I don't think you get all the way back to $20,000, but I do think that you need to establish a base whereby the people who really believe in the future of Bitcoin consolidate and then that provides you a lift."
if btc price touches 5k levels its the best oppotunity to buy btc because store of value btc price will hit 50000$ till 2021year