Bitcoin price will reach $ 300k, believe a supposed creator of the currency
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Adam Back, CEO of Blockstream, believes that Bitcoin could reach $ 300,000 in 5 years and he gives good reason for that.
Adam is seen by many as the person behind Satoshi Nakamoto, the mysterious creator of Bitcoin.
Rising Bitcoin price and government bonds
In a recent interview with Bloomberg, the alleged creator of the cryptocurrency stated that Bitcoin will reach $ 300,000 in 2025 - this without the entry of latest institutional investors.
He is optimistic about the present situation of Bitcoin during a future society altered by covid19. More specifically, Back believes that government bonds are overvalued which many of us are getting to work from home going forward, leaving the housing market more risky and hampering easy returns.
As a result, it might make people “look for tactics to preserve money”. Consequently getting to Bitcoin.
Blockstream's CEO also believes that the shortage of understanding of what Bitcoin is by major players would indicate that there's room for growth.
"The Goldman report was interesting because it showed some misunderstandings about digital scarcity and what's useful in Bitcoin," said Back. “This indicates that it's still early in terms of the adoption curve. you've got a crucial sophisticated market player like this, with an unclear understanding useful . For me, this means that there's still tons of room for appreciation and adoption of costs within the market "
Finally, he denies being the person behind Nakmoto:
“Generally, at now , it's better that the founding father of Bitcoin isn't known because many of us have a hierarchical mindset. If you examine a technology, you are trying to seek out out who the CEO of a corporation is and other people want to ask questions.
Since Bitcoin is more like digital gold, you would not want gold to possess a founder. For Bitcoin to take care of a perception of commodity, i feel it's extremely good that Satoshi is out of the general public eye. ”