Experts put BTC above gold and other assets and pointed out the factors that can make Bitcoin cost 500k USD or even more.
Bitcoin has a potential for growth to $ 500-600 thousand. This conclusion was made by the co-founders of the company Winklevoss Capital and founders of the Gemini digital asset exchange, brothers Tyler and Cameron Winklevoss. The businessmen shared their point of view in their blog.
Experts believe that the basis for the growth potential of bitcoin value is the ability to use cryptocurrency to preserve savings during economy crisis. They think that investments in BTC help to fight inflation. At the same time, the brothers evaluated bitcoin as a financial instrument for savings in times of crisis, and put it higher than gold. In their opinion, oil and the US dollar, are inferior to the cryptocurrency with the biggest market cap.
Tyler and Cameron Winklevoss noted in the blog post, that the choice of the US regulators to follow the policy of quantitative easing played a decisive role for the market. It implies the fight against the crisis through artificial injection of freshly printed dollars into the economy. The specialists paid special attention to the activity of the US FRS over the past six months. According to experts, within the last six months the regulator printed and poured into the market 2/3 of the entire mass of dollars that were issued in 11 years.
Chart that reflects the speed of printing US dollars. Data: Winklevoss Brothers Blog
“Bitcoin is ultimately the only long-term protection against inflation”
The Winklevoss brothers
Artificial flooding of the market with the American national cryptocurrency, according to the brothers, negatively affects its value. Unlike dollars, bitcoin emission is limited. Many members of the crypto community share the opinion of the Winklevoss brothers that investing in BTC will help preserve savings better than fiat.
The brothers believe that it will open the prospects for bitcoin. They suggested its further growth if bankers start using BTC to partially replace fiat reserves, or the digital asset continues to develop just in the same way as gold. If it happens, its rate may rise to $ 500-600 thousand as experts think.