Bitcoin has already proven its stability as a digital currency, and also acquired a certain popularity among organizations, large investors and the general public. In this regard, the price of the main cryptocurrency "is doomed" to continue rapid growth - the former US Finance Minister Lawrence Summers said in an interview with Bloomberg on the eve of Bloomberg. He shared his thoughts on the broadcast of Wall Street.
To start a little refinement. Summers is a well-known economist, who previously held the post of vice-president on the development economy and the main economist of the World Bank, a senior employee of the US Department of Finance and the Director of the National Economic Council. Since the expert has a huge track record and a list of authoritative posts, to his words are serious. Nevertheless, Lawrence has enough experience and understanding of what is happening in the Finance Industry.
What will happen to Bitcoin on?
Commenting on the topic of possible Bitcoin location in the bubble state, Summers noted that he does not want to predict the dynamics of cryptocurrency prices in the short term. At the same time, "some organizations" seems to be so approved the concept of digital assets, which are ready to stay in the industry "for a very long time." Here is a quote in which he shares the details of what is happening. A replica brings Decrypt.
Here the expert talks about two things. Under a slight kickback, Summers means a recent correction - that is, sending the Bitcoin course, which occurred on January 11 of this year. Then BTC sharply fell from line 38-39 thousand dollars below the zone of 32 thousand. Since then, the cryptocurrency has restored, but above 40 thousand it never entrenched. The actual rate of Bitcoin today is 37 thousand, which is higher than the result of a daily rate of 2.6 percent.
Limitably, Lawrence mentioned the fixed maximum number of bitcoins, which will be no more than 21 million. This feature was invented and implemented by the Creator Cryptovalyuta Satosha Doboto, and this number has a clear explanation. Note that the real number of coins in the turn will be significantly less, since many of them are lost. According to preliminary data, we are talking about a loss of approximately 20 percent of all coins.
So far, interest in BTC among ordinary investors is still far from their peak, but large investors in the form of organizations and foundations have long been invested in the main cryptocurrency. What is only worth the history of the MICROSTRATEGY analytical giant, which on its investment in BTC has already managed to earn more than a billion dollars. The company has at least 70 thousand bitcoins, which were acquired at a significantly smaller rate than today.
In general, we believe that logic at the point of view of Louurenz Summers is. The maximum number of bitcoins is really limited, and due to mass losses, cryptocurrencies will be significantly less. At the same time, the interest of large companies, which have free millions of dollars, is growing. So if the demand rate will grow enough quickly, it can have a positive effect on the cost of the asset.
It is also worth noting the awareness of the expert on the device cryptocurrency and the peculiarities of Bitcoin. He knows not only about the popularity of the asset among major players, but also about the limited maximum amount of coins. Recall, this is observed not everywhere. For example, recently the lead Fox Business stated that almost all bitcoins are now lost.
Whatever it was, it is impossible to predict the development of events in the future, which means to rely on the point of view of the expert - although the famous one is not worth it. Before entering into a deal, be sure to conduct your own analysis and study in detail the cryptocurrency project.
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