It’s been revealed that the price of Bitcoin can explode soon, according to the latest predictions. The crypto market looks great today with most of the important coins exploding in price.
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $41,802.
Now, the chief executive of a crypto-focused hedge fund thinks mass adoption could drive the price of Bitcoin (BTC) up to $400,000. This could happen in about three years according to what he had to say.
Pantera Capital CEO Dan Morehead explained in a new interview with Bloomberg TV that BTC’s price appreciation is based on basic “Econ 101 Supply and Demand.”
“Every two years, 10 times more people use cryptocurrency than they did in the past, and that’s been going on for a decade. Every two years, it’s 10 times more. And every two years, the price of crypto’s gone up 10x.”
He continued and said this:
“And to my mind, it’s that simple that within the next 5-10 years, almost everyone with a smartphone will use cryptocurrencies, and if that’s true, they’re going to be at a much higher price.”
Triggers for the price of Bitcoin
Morehead also made sure to address the triggers that could send Bitcoin’s price to $400,000 by 2025.
“I think it will actually be some number like that. All the use cases that are really rolling out and people are using it. Now institutional investors are really investing in the space, from taking it 10 or 20 basis points to maybe in 10 years, 8% of their portfolio.”
He also explained that while he’s bullish on BTC, he thinks “most of the new innovation is in other things” in the crypto space.
Despite the multiple market corrections, the price of Bitcoin remains surrounded by bullish predicitons these days. Stay tuned for more news, and keep your eyes on the market.
