THELOGICALINDIAN - Speaking at the Sohn Investment Conference on Monday April 23rd John Pfeffer consecutive administrator broker and currently a accomplice at Pfeffer Capital declared that Bitcoin is the aboriginal applicable backup for gold
In a account that would accomplish alike the anxiety of David Drake circle with delight, John Pfeffer said that his apprehension is for Bitcoin’s amount to acceleration to at atomic $90,000 or ‘significantly higher.’ At the time of writing, the cryptocurrency is trading for $9,202, appearance a 3.37% access in the aftermost 24 hours.
John Pfeffer is a consecutive entrepreneur, investor, and currently a accomplice at Pfeffer Capital. He’s additionally the columnist of the book “An (Institutional) Investor’s Take on Cryptoassets.”
Pfeffer fabricated a few adventurous statements, afar from his optimistic Bitcoin amount prediction. He additionally acclaimed that the grandfather of all cryptocurrency is “better than gold.” Decentralization, as able-bodied as censorship resistance, are the amount pillars of Bitcoin’s prominence, according to Pfeffer. Also, he makes a case that the better cryptocurrency is “vastly easier to abundance and transact with than gold.”
Pfeffer additionally acclaimed that if 25% of the adopted gold affluence were to be replaced with bitcoins, the cryptocurrency arrangement would accept a absolute amount of $6.4 trillion.
While Pfeffer’s statements are assuredly brave, to say the least, he isn’t the aboriginal one to adumbration that Bitcoin could eventually alter gold. At the end of 2017, the acclaimed Winklevoss twins were absolutely close in their belief, adage that “Bitcoin matches or beats gold beyond the board.” The twins additionally said:
A key affect can be noticed in both Pfeffer’s account and the one from the Winklevoss twins. They are acutely isolating Bitcoin from added cryptocurrencies, and they are bright that they shouldn’t be intermingled. At the conference, Pfeffer was absolutely blunt, adage that the “majority of crypto assets are bad bets.”
Do you anticipate there is a adventitious for Bitcoin to eventually alter gold? Please let us apperceive in the comments below!
Images address of LinkedIn and Bitcoinist archives.
