The head of the company told when to wait for the cryptocurrency to go up many times, why it would happen without institutional investors, and whether he is the creator of BTC Satoshi Nakamoto
Bitcoin will go up to $ 300,000 in five years, Blockstream CEO Adam Beck said in an interview with Bloomberg. According to him, this will happen without the appearance of institutional investors on the cryptocurrency market. More and more retail users are turning to cryptocurrency due to the current crisis and the resulting depreciation of money.
“This may not require additional recognition among institutional investors. The current environment is making more people think about hedging and maintaining value when money is printed everywhere in the world, ”Beck explained.
He noted, referring to Goldman Sachs Bank, that the bitcoin has not yet been understood among institutional investors. Previously, the company held a conference for its customers, at which it named at least 8 reasons not to buy cryptocurrency.
Beck continued that the demand for digital money is growing, as evidenced by the example of the Grayscale Investments fund. The company increased the volume of investments in cryptocurrencies by about 80%, and from May 11 to May 28, it bought 53% more BTC than miners mined.
When asked by the publication about the creator of the cryptocurrency, Beck replied that he was not. The head of the company also suggested that Satoshi Nakamoto is better off not revealing his identity. This will help preserve the rehearsal independence of Bitcoin.
“If you read about technology, you are trying to find out who is the CEO of the company, people want to ask questions. Since bitcoin is more like digital gold, you would not want gold to have a founder. So that Bitcoin can keep the appearance of the product, it would be better if Satoshi continued to stay away from the public, ”Beck shared.
In January, the head of Blockstream said that the Bitcoin exchange rate could soar up to $ 100,000, and this is more real than it seems. The reasons for this, Beck called the widespread cryptocurrency and potential inflation of the US dollar. If a currency depreciates 10 times over time, then the main digital asset will become more expensive by a similar amount.