CEO of an investment firm that manages billions of dollars worth of assets, bitcoin(BTC) price to seven digits, EthereumHe thinks that (ETH) will reach six-digit numbers.
Head of US Global Investors Frank HolmesHe stated that due to the scarcity of Bitcoin and increasing adoption, the leading crypto-asset could gain around 1600% from current levels in the next decade.
“This is Metcalfe’s Law and since Bitcoin is capped at 21 million units, Metcalfe’s law says the price could increase exponentially.”
The CEO also cited the example of PayPal, referring to past examples. According to the CEO, PayPal allowed investors to buy fractions. Then, as its value increases, you can use a part to buy a new TV or buy a new car. “So I’m talking about the idea that you can buy a certain with Robinhood,” he added. According to the CEO, without having to pay $68,000, you can also get $680. Bitcoin (BTC) possible to receive.
The CEO also touched on ETFs that now generally allow the public, although a derivative is a derivative, it is also possible to ‘piece-buy’ through these ETFs, according to the CEO. “And all this is starting to get even more global adoption. So at the end of the road, I think it could easily be ‘million dollars’. Maybe in the next ten years,” he said.
Bitcoin is trading at $58,500 at the time of writing.
Chairman of the investment firm, which has $4.6 billion in assets under management as of May, EthereumHe also stated that he would not be “surprised” that .
“My target for Ethereum is $100,000 because the supply is locked. When you limit supply and there is greater adoption, these prices will increase as Metcalfe’s laws suggest. We will grow exponentially and we are witnessing that.”
Ethereum is trading at $4280 at the time of writing.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.