Dan Held, one of Kraken‘s executives, predicted a new price as he assessed Bitcoin‘s future.
Dan Held recently gave an interview to The Cointelegraph, commenting on bitcoin’s current state, future, and developments in the industry. Held made some very positive comments, especially regarding Bitcoin. Held even hinted at one point in the interview that the price of Bitcoin could go up to $ 1 million.
He Made A Big Profit
Dan Held, who entered the cryptocurrency market in 2013, has been a firm supporter of Bitcoin ever since. Held, who has invested 90 percent of his personal portfolio in Bitcoin, has so far profited heavily from this investment. Noting that Bitcoin makes far more gains than traditional financial assets, Held advised young investors in particular::
“Everyone will have their own risk portfolio. That depends on how much risk you can take. Investing in Bitcoin might not be the right decision for you, for example, if you owe a lot of money, try to survive by eating noodles, and you’re under constant stress. But let’s say you’re 22, 25 years old, and have invested 1 percent of your investment portfolio in Bitcoin. I think that the ratio is very low. Bitcoin gains asymmetrically. So it will be easier to split 10 percent of your portfolio into Bitcoin when you’re young. Because even if the price of Bitcoin drops to zero, which I think is unlikely, you lose 10 percent of your portfolio. But if the price goes up tenfold, you’re doubling your portfolio.”
Dan Held, in his own words, doesn’t think it’s very likely that the price of Bitcoin will fall to zero. Even in his view, the price of Bitcoin will rise as time goes on. Held, who says Bitcoin Is Gold 2.0, or rather believes it, says Bitcoin’s market value could be several trillion dollars over time.
Will the price fluctuate?
Bitcoin has become an asset nowadays known for its volatility, in other words, its fluctuations. This is hardly an unfair discourse because the price of Bitcoin can exhibit very large movements in very short periods of time. Dan Held says that this is not surprising, and he interprets it as:
“Volatility is a perfectly good thing for Bitcoin. There is no financial asset without volatility. People are wary when they hear ‘volatility’ but there’s no asset whose price doesn’t fluctuate. The price of Bitcoin will also fluctuate, of course, because Bitcoin, which once had no value, is now moving towards becoming a reserve currency despite the support of no bank, no financial institution.”
Held also says that this volatility will diminish over time and that the price of Bitcoin will move forward much more stably than it does now. Even according to his views, investing in Bitcoin will become a” boring ” business at some point:
He said: “as Bitcoin grows, as liquidity increases we will see volatility fall. In fact, a lot of people think the price of a good backlog vehicle should stay steady. In fact, the situation is the opposite. Gold, which has been used as a means of accumulation for four thousand years, has no fixed purchasing power because gold is not managed by a certain Center. In order for the purchasing power of something to remain constant, it must be connected to a certain Center. So Bitcoin and gold prices will always be fluctuating… when Bitcoin reaches the extreme it can reach it will have a market value of maybe $ 5 trillion, $ 100 trillion. Bitcoin is going to be a very boring thing at this point because it’s going to be used as Gold 2.0.”
