Topic: Bitcoin Price Will Soar over Next Three Years: Circle CEO Jeremy Allaire - page 2. (Read 441 times)

Everything this guy said is very sound. Regardless of the current short term difficulties, this guy correctly identifies the main strength of bitcoin as a form of non-sovereign money. This, coming from a Goldman Sachs backed company, means something. For one, it means that they are taking bitcoin seriously, as they should. Maybe, publicly, these big banks won't say much, but behind the scene they are following the development and privately prepare the ground to jump on board (if they haven't already).

The bitcoin price will rocket over the next three years, and cryptocurrency valuations will spike accordingly, says Jeremy Allaire, the co-founder and CEO of Circle, a peer-to-peer payments technology company backed by Goldman Sachs.

While Allaire was reticent to set a specific bitcoin price target, he predicts that its value will unquestionably be a lot higher in three years than it is now.

“I don’t make significant price predictions,” Allaire told CNBC on Dec. 14 (video below). “But it’s certainly going to be worth a great deal more than it’s worth today. I am long in the market.”

When asked what will bring people who lost money in the current bear market back to the table, Allaire said it’s because the fundamentals of cryptocurrencies haven’t changed simply because their prices cratered.


Bitcoin a ‘Scarce, Non-Sovereign Store of Value’
Regardless of its daily price, Allaire said bitcoin has a “very significant role” to play as a non-sovereign store of value.

“The key thing with bitcoin is that it is unique in its security and its scale,” Allaire explained. “As an idea that we need a scarce, non-sovereign store of value that individuals can hold in a protected fashion — that’s attractive all around the world.”

     - YouTube | https://youtu.be/kpdPJ-zwnyU

While naysayers have gleefully proclaimed the death of bitcoin, Allaire said it would survive over the long haul, and so will other cryptocurrencies.

Allaire said some virtual currencies would die off in an overcrowded market due to competitive forces, but it’s not a zero-sum game where the success of one digital currency means the death of all the others.


Reference: https://www.ccn.com/bitcoin-price-will-soar-over-next-three-years-circle-ceo-jeremy-allaire/