Jeremy Allaire, co-founder of crypto finance company Circle, told CNBC in an interview Friday, Dec. 14, that Bitcoin will be worth "a great deal more" than it is now.
When asked about the Bitcoin price in three years, Allaire told Squawk Box host Andrew Ross Sorkin that he does not make "Significant price predictions," while adding, "I think it is certainly going to be worth a great deal more that it is today."
Allaire also stated that while Bitcoin is attractive as a non-state store of value, a slew of other tokens will enter the space, and the bases of their valuations will be diverse.
Allaire claimed that the crypto sphere needs clearer regulation, while noting that the United States already has "More regulatory clarity than almost any other market in the world."
The Circle co-founder cited the need for clarification of whether crypto assets are currencies or commodities, and which crypto assets should qualify as securities.
He believes the industry needs to define whether it needs rules for secondary trading of digital securities or a "Kind of commodity spot market supervision for the crypto space."
Earlier this week, major crypto bull and co-founder of Fundstrat Global Advisors Tom Lee claimed that the fair value of Bitcoin is "Significantly" higher than its current price and should be somewhere between $13,800 and $14,800.
He still thinks that the fair value of Bitcoin could reach $150,000 after it has been more widely adopted.
As for crypto adoption, a commissioner of the U.S. Securities and Exchange Commission Hester Peirce, dubbed "Crypto Mom" by the community for her pro-crypto stance, thinks that the process might take a long time.
She urged the public not to 'hold its breath,' waiting for a Bitcoin ETF, as it could be "20 years away from now or it could be tomorrow."
Bitcoin to Be Worth 'Great Deal More' in Three Years, Circle Co-Founder Says
Udgivet den Dec 14, 2018
by Cointele | Udgivet den Coinage
Coinage
Nævnt i denne artikel
Seneste nyheder
Se alt
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.