When Bitcoin blew past the $9,000 mark, it had many people talking. For those in the industry, it wasn’t a surprise. Read their thoughts on what comes next below.
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“There is an on-going paradigm shift and people are starting to digitize their assets. Some well-known investors, like Mark Cuban and Mike Novogratz, have stated that it’s a good investment to have 10 per cent of your assets or savings in crypto alongside traditional ones like stocks. The total crypto market cap has grown almost $300 billion in the past year and people are realizing that these new forms of value can help them in these uncertain times when things like bank bailouts can happen. Bitcoin may reach the $10,000 price per unit by the end of the year. When and how much it will come down once it reaches its current peak is a whole other matter. Ethereum has grown from $8 to $470 since the beginning of the year, which I think is way more interesting than bitcoin’s current run.
“If people keep believing that bitcoin and other cryptos can retain their value, then they can keep growing. In the case of other cryptoassets whose function is not store of value, but utility or governance functions, their value will be defined by the utility they provide to their token holders. I believe we are still experimenting and in the early stage of cryptoeconomics, so predictions are definitely hard to make.”
Luis Cuende Co-founder and Project Lead of Aragon, the decentralized governance platform for organizations
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