Andreas Townsend

8 months ago

The newest member of PayPal’s board of directors just said that Bitcoin (BTC) could cross $1 million in about 7 to 10 years.

He really said this, as mindblowing as it may seem.

We keep reporting details on various assumptions regarding the price for the digital asset, but this one, we have to admit, is one of the most bullish we heard so far.

Invest at least 1% of your portfolio in BTC

Wences Casares in the new PayPal director and he’s also Xapo CEO.

We reported today that believes that strong returns from BTC mean that most portfolios should be investing at least 1% in the digital asset because it’s continuously outperforming other traditional assets such as indices and stocks.

“I suggest that a $10 million portfolio should invest at most $100,000 in Bitcoin (up to 1% but not more as the risk of losing this investment is high),” he said, according to NewsBTC.

BTC is a fascinating experiment

He also said that BTC is a fascinating experiment and there are risks that it fails and becomes worthless.

He also gave his view on BTC failing and said that there are chances of 20% that this may happen.

On the other hand, he said that after ten years of working great without any interruption, with “more than 60 million holders, adding more than 1 million new holders per month and moving more than $1 billion per day worldwide, it has a good chance of succeeding.”

He highlighted the fact that BTC’s chances of succeeding are at least 50%.

“If Bitcoin does succeed, 1 Bitcoin may be worth more than $1 million in 7 to 10 years. That is 250 times what it is worth today (at the time of writing the price of Bitcoin is ~ $4,000),” he said.

BTC vs. fiat and gold

The man also brought up the economic freedom that BTC has as the main strength.

He said that BTC has no intrinsic value and gold, the US dollar and national currencies don’t have intrinsic value either, but they had a monetary value for a long time and that’s why most people perceive them as having an intrinsic value.

He sees this as the main advantage over BTC.

Coins Mentioned

BTC

Bitcoin

Leave a Reply

avatar
  Subscribe  
Notify of
Icon
1xBit

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
Nitrogen Sports

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
7bitcasino

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
BitStarz

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
FortuneJack

Lorem Ipsum is simply dummy text of the printing and typesetting industry....

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Trending news

Binance

Trending news

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Top Sportsbook
Icon
1xBit

4.03

Read Review - Website

Icon
Nitrogen Sports

4.73

Read Review - Website

Icon
SportBet.io

4.60

Read Review - Website

Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

1292 Articles
7255 Followers