Nothing is impossible – Brock Pierce sees Bitcoin at up to $ 200,000 in 2022
Bitcoin ended a record year with a bitter aftertaste. As we reported, December is developing into the worst month since May, although the Bitcoin price had only reached a new all-time high a few weeks ago. However, according to Brock Pierce, this is just a normal market cycle and we would be back on the uptrend soon. The chairman of the Bitcoin Foundation believes Bitcoin could soar to $ 200,000 in the coming year.
Brock Pierce spoke to Cheryl Casone on the Fox Business Show “Morning with Maria” about the current market, the impact of altcoins on Bitcoin price, regulations and the future of Bitcoin.
Brock Pierce did not hold back in predicting the price of Bitcoin, claiming that $ 100,000 was within reach and the price could even rise twice as much.
“I wouldn’t be surprised if we saw Bitcoin prices over $ 100,000 next year. It is even conceivable that it briefly crosses the $ 200,000 mark and then falls back again. “
Much of this, however, depends on external factors. Pierce told Fox, “We have printed a huge amount of money in the world. What will we see in terms of actual inflation? “
“Remember, this is an alternative investment that is not per se a hedge like gold or real estate because it has higher risk and volatility, but also a much more interesting return profile. Depending on the financial uncertainty in the financial system in general, this will be the most important factor. “
Altcoins, regulations and the dot-com bubble
As Bitcoin struggles, some altcoins continue to have a successful year. This has led many to argue that the money that goes into these alternative cryptocurrencies is the very money that Bitcoin lacks and that could have brought it “to the moon”.
Pierce agrees. If there weren’t any altcoins, Bitcoin’s market capitalization would be more than double what it is now, he believes. On the other hand, altcoins are crucial to the success of Bitcoin and solve problems that Bitcoin could not solve, he believes:
“Bitcoin is something like digital gold. The idea for Ethereum was: Can we create programmable contracts? “
Just like with the internet in 1999, there will be a few who survive like the Amazons and Googles did, but the vast majority of altcoin projects will perish once this dot-com-like bubble bursts.
“Pierce has made a name for itself through several projects. He started out as a child actor and appeared in Disney films such as The Mighty Ducks and First Kid. He was among the first in the crypto world and he’s the founder of Tether, although he got out before it became the giant it is today. He is also the co-founder of Block.one, the company behind the EOS project. In 2020 he ran as an independent candidate for the office of US President.