Bitcoin (BTC): Billionaire Investors are Making Big Bets
2018 was a delirious year for cryptocurrency investors.
Nothing was going right. Coins were falling out of the sky. Millions of dollars were being lost by frustrated investors hoping for a repeat of 2017.
However, we’re slowly seeing signs of recovery in most coins, especially Bitcoin (BTC).
Since December 2018, BTC has been in an ascending channel, which took it from a low of $3,174 to a current high of $3,966. At this pace, there are hopes the coin could refill its bearish gap at $6,283 this year or next. Even some of the top investors around are bullish.
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One of the coin’s biggest cheerleaders is Twitter CEO, Jack Dorsey.
In fact, he just revealed he’s been buying $10,000 worth of BTC every week.
“Imagine being born this year, growing up only knowing that the potential for a global currency exists,” he says, as quoted by Forbes. “That is exciting. I think there's a massive acceleration that's going to happen within the next 10 years. I don't wait around for that to happen to me or to us as a company, I want to help make it happen."
However, the Twitter CEO isn’t the only bull.
Binance CEO Changpeng Zhao is bullish, as his platform has been “overwhelmed” by registrations. EOS founder nd BlockOne CEO Brendan Blumer is bullish, noting that “over the next two decades, bitcoin will replace gold as the leading commodity to store value.”
Even the Winkelvoss twins believe BTC could one day be bigger than social media itself.
Perma-bull Tom Lee says the coin should be between $15,000 and $20,000, noting that the “tailwinds” that dragged the coin down are now beginning to ease. Specifically, he says the “macro factors such as a rally in risk assets plus the US dollar no longer surging are tailwinds for BTC,” as quoted by CCN.
Granted, the cryptocurrency industry made life difficult in recent months, but it appears the worst is now behind us. Not only is BTC ticking higher, but we still have a good deal of heavy-duty investors believing in its future.
Give it time. Cryptocurrencis may just pay off just as well as it did in 2017.
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