The head of the company told when to expect a multiple increase in the price of cryptocurrency, why it will happen without institutional investors, and whether he is the Creator of BTC Satoshi Nakamoto
Bitcoin will rise in price to $300,000 within five years, said the head of Blockstream Adam Back in an interview with Bloomberg. According to him, this will happen without the appearance of institutional investors on the crypto market. More and more retail users are turning to cryptocurrency due to the current crisis and the resulting depreciation of money.
"This may not require additional recognition among institutional investors. The current environment makes more people think about hedging and preserving value when money is printed everywhere in the world, " explained Beck.
He noted, referring to the Bank Goldman Sachs, that bitcoin has not yet been understood among institutional investors. Earlier, the company held a conference for its clients, where it named at least 8 reasons not to buy cryptocurrency.
Beck continued that the demand for digital money is growing, as evidenced by the example of the Grayscale Investments Fund. After halving, the company increased its investment in cryptocurrencies by about 80%, and in the period from may 11 to may 28, it bought 53% more BTC than the miners produced.
When asked by the publication about the Creator of the cryptocurrency, Beck replied that he is not. The head of the company also suggested that Satoshi Nakamoto should not disclose his identity. This will help to keep the rehearsal of the independence of bitcoin.
"If you read about technology, you're trying to figure out who the CEO of a company is, people want to ask questions. Since bitcoin is more like digital gold, you wouldn't want gold to have a founder. In order for bitcoin to preserve the appearance of the product, it will be better if Satoshi continues to stay away from the public," Beck shared.
In January, the head of Blockstream said that the Bitcoin exchange rate could soar to $100,000, and this is more real than it seems. The reasons for this are the widespread use of cryptocurrencies and the potential inflation of the us dollar. If the currency depreciates 10 times over time, then the main digital asset will rise in price by a similar amount relative to it.
