Bitcoin and Ethereum to explode by more than 1,600%, says CEO of billion dollar investment firm

[ad_1]

The CEO of an investment firm with billions of dollars in assets under management predicts that the price of Bitcoin (BTC) will reach seven digits while that of Ethereum (ETH) will reach six.

US Global Investors Director Frank Holmes said that due to the scarcity and growing adoption of Bitcoin, the flagship cryptocurrency may appreciate about 1,600% from current levels in the world. over the next decade.

“It’s Metcalfe’s law. And because Bitcoin is capped at 21 million coins and Metcalfe’s Law says the price can rise exponentially.

And what has happened, and has continued to happen through other channels and what is happening with PayPal – PayPal has allowed investors to buy fractions. And then as it went up, they could take a piece of it out and buy a new TV. Or a car. So the idea that with Robinhood you can buy a fraction… you don’t have to pay $ 68,000, you could pay $ 680.

And now we have the ETF [exchange-traded fund] which allows the general public, even if it is a derivative of a derivative, you can still buy a fraction. And all of this allows for greater adoption globally. So I think it could easily be a million dollars later. Maybe in the next 10 years.

Bitcoin is trading at $ 60,023 at the time of writing.

The head of the investment firm which had $ 4.6 billion in assets under management in May said he would not be “surprised” to see Ethereum appreciate about 2,250% from levels current.

“It’s $ 100,000 [for Ethereum]. This is because the supply is blocked. Every time you cap the supply and there is more adoption, those prices will go up as Metcalfe’s Law suggests. We’re going to grow exponentially and that’s what we’re seeing.

Currently, Ethereum is trading at $ 4,250.

I

Check Price Action Don’t Miss a Beat – Subscribe to receive crypto email alerts straight to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest news Reviews of Disclaimer: Opinions expressed in Daily Hodl are not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.

Featured Image: Shutterstock / NextMarsMedia / AM511

[ad_2]