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Entrepreneur, investor and author, James Altucher is one of the growing number of people who believe that bitcoin will surprise the planet with its short-term price. Earlier in Kitco News, he said that a bitcoin of a million dollars was actually possible by 2020.
Altucher bases his speculation on the increasing levels of geopolitical instability in today's world, as well as on increasing general acceptance of Bitcoin by Whole Foods and others.
Could BTC be on track for a million dollars by 2020?
A bitcoin of a million dollars by 2020 could seem like an absolute dream. However, for some, it's almost a fatality. The venture capital investor, entrepreneur and author James Altucher has been part of their ranks since 2017.
In an interview with Kitco News, Altucher reaffirmed that it was indeed possible, but that the timing was so uncertain that one can not rule out a seven-digit Bitcoin by 2020. In his reasoning, he claims that his opinions of 2017 have not changed. He still maintains that cryptographic badets solve many of the problems of fiat money – excessive inflation caused by reckless currency printing, confidentiality and the risk of counterfeiting are just a few of these problems.
Altucher thinks that it is inevitable that the value of these authentic cryptographic badets offering certain advantages over the current system increases:
"In the long run, all safe crypto-currencies and not scams will increase."
In his interview in 2017, Altucher stated that he felt that 95% of all cryptographic badets were scams and that he has since explained that the number of such collapses was evidence that he was right.
In addressing short-term prospects for Bitcoin, Altucher spoke of the geopolitical turmoil in today's world. Brexit, tariff wars and rogue states such as Iran have all been mentioned as factors contributing to global instability that the author and the entrepreneur believe to be in the process of creating. to generate and continue to advance Bitcoin.
In explaining the recent gathering, he states:
"It's a steal for security and many companies have announced their intention to accept it."
So, what about this Bitcoin 2020 Million Dollar?
Altucher's interview may have been the most interesting part of his interview when he spoke directly to his previous $ 1 million call. In 2017, he said that he would not be surprised that Bitcoin will reach a million dollars by 2020.
When asked if he was still in favor of this point of view, he did confirm his claim that this million dollars could even be an attractive discount for a single unit. digital badet.
To justify his seemingly wild price in Bitcoin, Altucher said there are about 200 trillion dollars worth of paper money on the market. He compared this to the market capitalization of all crypto – less than $ 267 billion. Although the percentage difference is not quite equal to 200,000, he said, it is not far. He continued:
"It could give Bitcoin a price, I do not know, of $ 8 million, so $ 1 million is actually a discount on what could be spent.
He went on to say that, if he did not know when he would succeed, the general trend will lead to unthinkable prices, almost unthinkable today.
When asked if he still thought it was possible to sell a single Bitcoin for over a million dollars specifically by 2020, he confirmed that he thought it was possible:
"Will it be a million dollars in 2020? May be. Will it be 2021, 2022, who knows? At some point, in some countries, their currency will collapse, who knows what country it will be – Argentina, Iran, many countries of America from the South represent a potential … The population of this country will say: "Let's all go to Bitcoin, and then you'll see mbadive adoption. "
If Altucher has not so much relied on his million dollar appeal for Bitcoin as John McAfee, he clearly thinks that if the conditions are right, the huge price hike will be fast. The necessary collapse of a national currency that, in his view, would drive up prices could occur at any time, and a sudden increase in buying pressure on a fixed-bid badet can only lead to higher prices.
Related reading: The Million Dollar Bitcoin Club and its Uber-Bulls
Featured image of Shutterstock.
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