Aaron Lasher, the CMO and co-founder of Breadwallet, a crypto wallet, expects bitcoin’s price to hit around $250,000 in the next 10 years, giving it a market cap of $5 trillion
The path, however, will not be smooth. As a longtime bitcoin holder, Lasher said he is enjoying the pricing action, but he expects the current bull market to be followed by a bear environment, according to MarketWatch.
BTC/USD already has a bigger market cap than Starbucks, which hit a new record on Thursday, giving it a market cap in excess of $78 billion.
While bitcoin has a long way to reach Lasher’s prediction, its surge has drawn fears of a bubble set to bust, leaving a trail of broken speculators in its wake.
Lasher acknowledges cryptos are in a bubble, but he doesn’t view this as a negative. This isn’t the first time bitcoin has been in a hype cycle, he stated, and it won’t be the last.
Long-term, bitcoin’s trend is up, so its past bubbles are less significant. While he does not know how high the current bubble will go, he will not be selling any bitcoin before, during or after the bubble.
As for the uninitiated, he prescribes caution. They need to do extensive research before getting into cryptos. Cryptos are not a get-rich-quick scheme, and those who blindly invest are likely to either risk too much, buy too soon or sell too soon.
Lasher nonetheless said that cryptos, bitcoin, in particular, can be a beneficial diversification tool, a crisis hedge and a high-risk growth asset.
As for today’s leading cryptos, within 10 years there will be 10 digital currencies worth in excess of $25 billion each, he said. Ethereum at the present time is the only one besides bitcoin that already tops that mark.
Last modified: July 13, 2020 3:12 AM UTC