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wilslaw

Circle co-founder says: In 3 years time, Bitcoin will be worth a great deal more

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Circle co-founder, Jeremy Allaire in an interview on Friday 14th December, told CNBC that Bitcoin (BTC) will be worth “a great deal more” than it is presently.

 

Allaire when questioned about the price of Bitcoin in 3 years time, replied Andrew Ross Sorkin (Squawk Box host) that he doesn’t make significant price predictions. He added that: “I think it is certainly going to be worth a great deal more that it is today.”

 

Allaire also said that as Bitcoin is attractive as a non-state store of value, other tokens will come into space and the bases of their valuations will be diverse. 

 

He then explained further that: “I do not think it's a winner-take-all [situation]. We have the phrase ‘the tokenization of everything,’ and we think cryptographic tokens are going to represent every form of financial asset in the world. There will be millions of them in years.”

 

The Circle co-founder claimed that the cryptocurrency sphere needs clearer regulation, while noting that the U.S already has “more regulatory clarity than almost any other market in the world.”

 

Allaire mentioned the need for clarification of whether crypto assets are commodities or currencies and which crypto assets should qualify as Securities. In addition, he feels the industry should define whether the rules are necessary for secondary trading of digital securities or a “kind of commodity spot market supervision for the crypto space.”

 

Earlier this week, Tom Lee, a major crypto bull and Fundstrat Global Advisors co-founder claimed that Bitcoin’s fair value is “significantly” greater than its present price and should be somewhere around $13,800 and $14,800. However, he still believes that the fair value of Bitcoin could reach $150,000 after it has gained more adoption.
 

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