The price of Bitcoin could reach five-digit territory next year and even briefly touch $ 200,000 due to the global economic situation, said Block.One co-founder and former US presidential candidate – Brock Pierce.
He also believes the regulations could help the cryptocurrency space, but only if they are incorporated as a result of extensive research.
BTC at $ 200K in 2022?
Pierce is among the most popular individuals in the cryptocurrency space, with connections to several projects such as Block.One and Tether. He also tried his luck in the 2020 US presidential election to no avail and said earlier this year that bitcoin would peak at $ 100,000 by the end of it.
With less than 48 hours to go to the end of 2021 and BTC trading well below $ 50,000, it’s safe to assume this prediction won’t come true. However, Pierce continues to be bullish on the major cryptocurrency and its price movements in USD.
In a recent interview with Fox Business, he described the current economic situation, where governments are printing excessive amounts of fiat money and inflation is rising dramatically, the main reason why BTC could soar next year.
“I won’t be surprised if we see a bitcoin price of over $ 100,000. It’s even conceivable that it could go above $ 200,000 for a moment.
He admitted that bitcoin is not a hedge against traditional financial assets per se, as it is more volatile and unregulated. Still, it attracts investors because of the potential for higher returns compared to gold and real estate.
The regulations are good
Pierce also touched on another hot topic in the crypto space over the past few years: regulation. Specifically, he responded to Senator Elizabeth Warren’s disparaging comments about the industry, but believes she and her team need to do more research before embarking on this path.
“I encourage her to continue to be informed. I’m glad she took the time to learn. I’m glad she took the time to form her opinion, but make sure you have the right information before doing so.
However, he agreed with Warren that the majority of BTC wealth is distributed to a handful of people who entered early and noted that this needs to change to further decentralize the asset.
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