Wences Casares and Andreas M. Antonopoulos discuss Bitcoin as a global store of value and settlement layer. One speaker projects $50,000 to $100,000 within five years, while another calls $5,000 a good price. The panel expects 99% of bitcoins to be issued by 2032.
2032
$5,000
Between $3,700 and $4,300
$50,000 to $100,000
For how much will I sell my bitcoins in five years for the market going price?
The bitcoin price is something to where you want it to be high, but you also want it to be low so you can buy more.
Bitcoin is an amazing technology store of value and non political currency. And I think that people globally are beginning to realize the value of having a non political currency, a global standard of value, a global standard of settlement.
I'm very optimistic over the overall market, the bitcoin market. I'm very optimistic on the ico, let's say the overall ICO and number of cryptocurrencies and the market cap in general.
My opinion is that, you know, there are way too many factors right now that influence the market. There are new investors, there are whales, there are market speculators.
But we will have 99% of the bitcoins issued by the year 2032. And then the slope of the curve is very flat. For me right now I wish the bitcoin price was extremely low so I can obviously buy a lot more and.
For it to go up at the same time. Like all technologies, bitcoin carries some risk of still, some risk of failure. But if it succeeds, it will be many multiples in its current price. So the current price is a, a blend, a mixture, a balance of those different probabilities.
And I think we're going to see a lot of volatility in all the cryptocurrencies and I think that we're going to see different states acting in different ways because this is a very big change that comes really, really fast.
We need to remember that there are 3 billion people in this planet that need financial services and they really need bitcoin.
I think this year we've seen bitcoin dominance go down because obviously so many altcoins, so many new coins coming up.
I think the good price for bitcoin in my opinion is somewhere around $5,000 of Bitcoin.
Don't sell, hang on to them. Unless you're not in a position that you can't sell, right, that you have to sell. But if you sell in five years, I can't foresee the future. But what people tell me, it's amazing if that continues that road, I think.
In five years I won't sell any of my bitco. I don't think I'll have to sell them. I think I could just use the bitcoins themselves.
Looking at some of the models, it suggests that somewhere between 3,700 and 4,300 currently. The market, the market is in many ways very wise because it reflects the decisions of many individual people making this assessment all the time.
The important thing is that the overall trend is very, very positive for the last seven years. And I believe that it will continue to be positive in the future years. But the right strategy is long and I think it always has been five.
Years a bit far. I mean, we've seen how far we've gone. So when I started bitcoin was maybe 20, $30 in the market in 2013. That's when we started building the incubator.
And that reflects the network value of bitcoin, the number of transactions, the possibilities it has. So I think the current market is a good reflection of the current network value and is a good place to be.
It reached 5,000, I think a year from now it could double. So if we go five years, yeah, I mean, let's say a range of 50,000 to $100,000.
I believe that in fact having many different currencies is much better than having few dominant currencies.
The great thing about Bitcoin is that there is no politically centrally planned system where everyone says you must do this. I mean, that's the whole point about bitcoin. Bitcoin is antifragile.
I think that we will see much more creativity this way. And just like email is a world protocol for sending information and messages between.
People, Bitcoin allows you, if you want to fork it, go ahead, it's free. Bitcoin is a free non political currency and that's the genius of it. And the fact that that bitcoin cash was able to fork off relatively successfully, relatively without incident to present a different vision of bitcoin, I think we can all welcome that just as we can welcome other people. They can fork if they want. That's the freedom, that's the genius of bitcoin in a way.
