Bitcoin (Bitcoin) Is in a “trend from bottom left to top right,” and its volatility should not scare investors, said the former head of the New York Stock Exchange.
in a Interview On June 23rd, on CNBC, Thomas Farley revealed his long-term belief in Bitcoin and dismissed concerns about falling BTC prices.
Bitcoin: Rising, but not just “rising”
In CNBC expert Jim Cramer admits him Sell Farley’s Bitcoin reserves indicate that the price of BTC/USD is as low as $10,000, and he provided some much-needed mainstream bullish sentiment.
“Regarding the recent price changes, I am optimistic about them-Bitcoin is a very volatile asset class, partly because it is a new asset class,” he told the network.
“I have no doubt that it will rise, and it will fall in the long run-I still think it is a trend from bottom left to top right, and I think we will see this in five years.”
with Mining upheaval The voice from China is still in everyone’s mouth, and the popular mainstream criticism of Bitcoin’s energy use is quickly left behind as a temporary issue.
“I think this confusion is an interesting conversation, but in general, I think it will be resolved because I think the core of the blockchain improves its efficiency, and it will actually increase energy efficiency over time. ,” he continued.
Don’t believe in gold too much.With bitcoin
However, when it comes to Bitcoin as “digital gold”, Farley’s forecast is more conservative.
Now firmly below the trillion-dollar market value, Bitcoin must transform to become a safe haven for value storage.
related: Join the ranks: Bitcoin’s correlation with gold and stocks is growing
“I think the current upper limit is gold, which has a market value of about 10 trillion U.S. dollars,” he added.
“In order for Bitcoin to surpass gold one day, it must be a more acceptable form of currency-frankly, I’m not sure if it will get there.”
supporter debate In its essence, because the latter ultimately has an unlimited supply and cannot beat Bitcoin in all aspects of “currency”, it is only a matter of time before Bitcoin surpasses gold.
Precious metals saw Major sell-off After the Fed commented on policy last week.
In order to beat gold, Bitcoin needs to be traded with a current supply of more than $533,000.
