1 Bitcoin is $ 4,190.64 (8:00 AM EST 8/24)
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Bitcoin has been providing investors with a significant and quick return on investment.
Investors love Bitcoin.
However, many are making short term bets on the price of Bitcoin, and few are taking a step further.
Ronnie Moas, the founder of Standpoint Research, thinks cryptocurrencies will be a viable asset class, not just a 10-year trend. Today, all cryptographic assets valued at $150 billion, but Moas predicts that assets will skyrocket to $2 trillion over the next decade. He explained his reasoning through this fundamental analysis of the capital markets and broader macroeconomic trends in an interview with CoinDesk.
Moas’s prediction sharply collides with CEO of Euro Pacific Capital, Peter Schiff’s analysis explaining how Bitcoin is just going on a declining trend.
He says in an interview with TheStreet, “I wish I would have realized how big the potential bubble was and was willing to take a flier on it because obviously anybody who bought Bitcoin a few years ago, you know to the extent that they sell out now they’re going to make a lot of money. But if they don’t sell out now, all they are going to have is the memory of the profits that they never took. This is a gigantic bubble.”
Watch the full interview with Peter Schiff
Schiff referenced the dot-com bust in the early 2000s as an example of his speculations with Bitcoin. “I think the same thing is going to happen with all these cryptocurrencies – they are going to collapse,” he said.
Remember when Silicon Valley changed the way we live due to the significant innovation surge? Moas compares the status of cryptocurrency as a parallel to Silicon Valley during the 1990s.
“I am not any more concerned with Bitcoin being at a record high than Amazon or Google investors were concerned when those share prices jumped hundreds of percent and hit $100 and $200 many years ago. Today, both of those stocks are above $900. The question is not where we are at – it is where are we going? I do not think we are in a bubble.” Moas explained.
“In my view, 10-15 years from now, the charts on a few of the top 20 names will look like the Amazon, Apple, Tesla, Netflix, Google and Facebook charts look today.” -Ronnie Moas
Even Mark Cuban, a former Bitcoin skeptic, is investing in 1confirmation, a venture capital fund that plans to raise $20 million to invest in companies developing blockchain technologies and early stage companies before they head into initial coin offering (ICO), according to a Monday filing with the Securities and Exchange Commission.
When do you think cryptocurrencies will have a significant purpose in day-to-day personal and business transactions?
When do you think the U.S. Government will step in and create regulations for cryptocurrencies?