According to Adam Back, CEO of Blockstream, the rate of the first crypt currency may reach $300,000 within five years, and without the participation of large investors.
“Bitcoin may well not even need additional institutional investors to reach $300,000. Today’s economic situation makes more and more people think about hedging and preserving their savings when the world is constantly printing new money. It makes people think about the value of money and how to save their money. It’s hard to make a profit in this situation,” Beck said.
Institutional investors are becoming more and more interested in the cryptovoltaic market. For example, in May, Paul Tudor Jones, manager of Tudor BVI hedge fund, spoke about purchasing bitcoins to hedge inflation risks.
At the beginning of the year Adam Back said that the rate of bitcoin may exceed $100,000. At the time, he stressed that it seemed impossible until recently that the first cryptovoltaic currency would reach $1,000, but the rate had already repeatedly exceeded $10,000.
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