- Bitcoin’s recognition and adoption is on the rise
- Bitcoin will hit $1,000,000 – Head of Business at Kraken, Dan Held
- Held believes no other platform utilizes blockchain like Bitcoin
Bitcoin News Today – Bitcoin is increasingly gaining traction and the recognition, adoption of the digital currency has surged enormously over the past months. Many have also been very bullish on the digital currency, with some releasing very bullish price predictions. Recently, Dan Held – the Head of Business at Kraken gave a very bullish Bitcoin price prediction of $1,000,000. He also explained why he believes the digital currency could attain such height.
Bitcoin (BTC) Price Today – BTC / USD
Head of Business at Kraken Give Bitcoin Price Prediction of $1,000,000
Dan Held has been in the digital currency space since 2013. In a recent interview, he talked about the early digital currency meetups in San Francisco’s Mission District. He also explained why he gave a very bullish prediction of Bitcoin hitting a million dollars. The Head of Business at Kraken also explained why BTC could become a very boring asset. He also said that he believes it is time to focus on Bitcoin and stop experimenting with altcoins.
Bitcoin is highly volatile and many investors, traders know about that. Nevertheless, Held believes that will not always be the case. He believes that Bitcoin is digital gold. With that thesis, there are expectations that the market of the digital currency would surge significantly.
“Bitcoin in its final stages decades from now will be something very boring. Like our grandkids will go, ‘Grandpa, Grandma, I only hear about Bitcoin. Everyone’s got Bitcoin.’ It is like, who cares? Like it is a boring investment. It’s like holding cash.”
He said the market cap of Bitcoin would be from $5 trillion to $100 trillion in its “final stages.” This would transform the digital currency from a very volatile asset to a “very boring” currency.
Dan Held Believes Blockchain Is Only Useful for Bitcoin
The faith of Held in Bitcoin is unshakeable. Held has seen his net worth surge and plunge by 80 percent three times. Nevertheless, 90 percent of this present net worth is still in BTC. He is not willing to diversify his portfolio and this is because he believes that blockchain technology is only useful for Bitcoin (BTC). In a statement, he said:
“Satoshi purposely built blockchain tech to build Bitcoin. Blockchain tech sucks. It is terrible. It makes so many tradeoffs to build Bitcoin that it is basically ineffective for almost anything else.”
Held so much believes in Bitcoin (BTC) that he does not see any reason for altcoins to exist. He said that altcoins are just experiments that are yet to prove the usefulness of blockchain; only Bitcoin has done that.