For those who believe that the price of Bitcoin (BTC) will reach US$ 100,000 in 2022, billionaire Brock Pierce points out that these optimists, in fact, are even pessimistic next to him.
In a new interview with Fox Business, the president of the Bitcoin Foundation said that some developments could push the price of BTC to US$300,000.
“I think more about external factors than about the Bitcoin market itself. I mean, we are printing a lot of currencies in the world today; what will we see in terms of real inflation? These are the kinds of things that will further drive the value of BTC,” he said.
According to Pierce, Bitcoin's volatile nature offers big potential returns for investors. Thus, it serves as an important catalyst to raise the price of the digital asset.
“Remember that this is an alternative asset and it is really one that is not a hedge like gold or real estate assets. That's because it has more risk and greater volatility. But also a much more interesting return profile. Depending on the financial uncertainty in the broader global financial system, this will be the main driver,” he pointed out.
In this sense, Pierce pointed out that it is highly likely that the BTC could surpass the six figures and even reach US$ 200,000 or US$ 330,000. This would mean an increase of more than 400% of the current price of the cryptocurrency:
“I wouldn't be surprised if we see a Bitcoin price next year above $100,000. It's even conceivable that it could break $200,000 for a moment and probably go down again,” he revealed.
He believes that after Bitcoin hits $100,000 the race will not stop. Instead, it will further boost the value of the cryptocurrency to new highs between $2,o0 and $300,000. Then, after that, there will come another strong correction in the market.
Also read: Shiba Inu announces creation of DAO to increase network decentralization
Also read: Twitch co-founder's NFT gaming platform officially launched
Read also: Number of Ethereum portfolios hits record high, but loss with ETH is also high