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October 4, 2022
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Bitcoin

Peter Brandt: Bitcoin has not yet said the last word –

Peter Brandt, a living legend of the capital market, appeared in a new episode of the podcast “The Wolf of All Streets”. In his opinion, Bitcoin will continue to gain in value, but there is also the risk that it will eventually fall to zero.

Peter Brandt: Growth awaits us

Brandt was famous for the fact that he predicted the BTC crash after the 2017 bubble with a fairly high accuracy. Ultimately, at the beginning of 2018, the cryptocurrency fell to roughly the levels that the famous investor had previously set.

In 2018, I put aside the amount of money that I thought: “This is money for Bitcoin.” (…) I do not see any sign yet that would suggest that Bitcoin will not grow further [na wykresie] – he recalled now and explained that he himself counted on a further boom.

The new cryptocurrency bubble is expected to reach the BTC rate up to USD 100,000. Brandt, however, warns the hodlers: we have 50 percent. the chances that BTC will drop to zero dollars in the long run.

Why such a discrepancy? First, Brandt takes a broader perspective on BTC. In his opinion, Satoshi Nakamoto’s work may become worthless, but only in a few years. Reason? The technology race we’ve been seeing in the markets for centuries.

After all, technology is always changing. Something completely new is happening and [coś poprzedniego] becomes obsolete – he explained. In other words, it assumes that Bitcoin will eventually be replaced by another cryptocurrency or a completely new payment system.

BTC is …

Payment system? Except that today BTC is more often referred to as “digital gold”. Brandt points out to this aspect.

– Bitcoin can be a store of value for me. It can be a medium of exchange. It can become a currency. It can take on the characteristics of a currency. (…) We see corporations that not only sell their shoes online for Bitcoins, but also store Bitcoins in their vault He said. He added that he also sees that big companies “They accept Bitcoin.”

Then we can say “hey, I’m starting to see acceptance [BTC] and it could really be a medium of exchange, currency and store of value now. I’m starting to see it myself. That’s why Paul Tudor Jones moved to the cryptocurrency market – added.

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