Brock Pierce, a crypto billionaire and known for his contributions to the cryptocurrency industry, created great excitement by predicting that Bitcoin could reach all-time highs in the coming period. In a recent interview with CNBC, he emphasized that Bitcoin “fly to the top” and break records in terms of price when the top digital asset by market cap experiences a true bull market. Here are the details…
Pierce is known for his optimistic views on the future of cryptocurrencies. As the co-founder of Tether, he is also part of this important project that contributes to the price stability of cryptocurrencies and plays a role in encouraging adoption.
According to Pierce, the bull run has begun in the crypto markets:
“If you look at historical cycles, when the real bull runs start, it makes it seem like Christmas has come early…
NEWS CONTINUES BELOWI think this is the next bull run, and whenever we find ourselves in one of these bull runs, we hit all-time highs, and if that happens, usually, the result is surprising. So is $150,000 where we will end up?
I have no idea but is it possible? Definitely. “It is also possible that if we experience another one of these terrible events, we may find ourselves falling again.”
NEWS CONTINUES BELOW
Pierce argues that over the past decade, U.S. regulators’ continued rejection of spot market Bitcoin exchange-traded funds (ETFs) has restricted many American investors from accumulating wealth through crypto assets. Pierce points out that this deprives investors in the United States of other emerging crypto financial products and opportunities.
Pierce thinks the ETF approval has been delayed and that this delay has contributed to the current excitement around Bitcoin. Regulatory uncertainty and lack of clarity regarding the legal status of cryptocurrencies may limit investor interest and demand for cryptocurrencies. However, Pierce believes that these hurdles can be overcome and regulatory approvals could increase the adoption of cryptocurrencies in the future.
“This has been tried for ten years. If an ETF were offered to the American people when Bitcoin was at $100 or $200, how much wealth would that create for the American people? “In this case, regulators prevented the American people from benefiting from this period of incredible wealth creation, and it mostly played into the hands of international organizations.”
You can follow the current price movement here.