Bitcoin price is either going to go to $1 million or zero
In a Fox Business interview, Crypto billionaire Brock Pierce said that the Bitcoin price will either fail spectacularly or become a massive success.
Bitcoin price will either crash to zero or explode to $1,000,000
Pierce, president of the Bitcoin Foundation, said that investors should refrain from going all-in on the top crypto asset. “Bitcoin could go to zero. It’s a binary outcome. It’s either going to go to $1 million a Bitcoin or zero. It’s going to be one or the other, which is why you shouldn’t put everything there”, he stated.
Bitcoin is trading for $36,024 at the time of writing. According to Pierce, the crypto scene now reminds him of the tech bubble more than two decades ago when a selection of internet startups took place.
“This reminds me a lot of 1999, right? We are in that phase. And what came out of that? eBay and Amazon and all sorts of interesting businesses came out of the Dot-Com sort of 1.0 era. And a bunch of it went to zero. And I think that will probably be true of what we see here. That doesn’t mean the innovation isn’t real and it’s not going to play an important role in our collective future”, he added.
In addition to Bitcoin, Pierce revealed that he has invested heavily in an Ethereum (ETH) competitor.
“I famously just made a nine-figure bet on EOS. I converted all of my Block.one shares into that. That’s public. And beyond that, I’m very interested in what’s happening within the NFT [non-fungible token] market. I was part of the NFT.com purchase and launch which happened last week”, the chairman of the Bitcoin Foundation said.
NFT.com is a community-driven non-fungible token marketplace that allows users to create their own profile galleries.
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