Bitcoin Is Here To Stay
Although already quite valuable, the billionaire sees more growth in the future of the currency. Institutional investors are yet to completely dive into the space and Bravo explained that with more institutional adoption will come a surge in the value of the digital asset.Related Reading | JPMorgan CEO Doesn’t Care If Bitcoin Grows 10X In Five Years
Being able to completely operate outside the purview of the government has been one of the major drivers of bitcoin growth. It has provided investors the opportunity to invest with amounts that would otherwise have seen them locked out of traditional investment avenues. Providing a major pull for younger investors who would rather take control of their financial investments. Besides being personally owning bitcoin, Bravo’s equity firm Thoma Bravo is also invested in the crypto space. Thoma Bravo participated in a recent funding round carried out by the fast-growing crypto exchange FTX Trading. This puts the billionaire in a position where he is both personally and professionally invested in crypto. But it doesn’t end there. The fund manager also sees great potential in blockchain technology and said it “sometimes provides better use cases than data-based software.”
BTC price trading in the mid-$43K | Source:
Why Bravo Is Bullish
Bravo’s bullish stance on crypto mainly boils down to one thing; adoption. It is estimated that less than 10% of the world’s population knows about bitcoin. With bitcoin’s growth being likened to that of the internet, there is going to be a major explosion in adoption in the next five years. The billionaire pointed that the digital asset will only continue to grow as more people adopt it. “For me, it’s pretty simple. More people are going to use it in the future than today, and it’s going to be more established. Institutions are just beginning to go there, and once that happens, I think it will increase significantly over the years. I’m very bullish.”Related Reading | Verifone Brings Bitcoin Payments To Thousands Of Merchants Across The U.S.
When asked if he thought crypto was here to stay, Bravo had enthusiastically replied, “absolutely.” He explained that inflation and transaction fee rates will drive people to bitcoin. The billionaire declined to comment on future price predictions for the asset saying, “I’m not going to give you a number because looking at the fundamental value here is very difficult.” But added that bitcoin’s finite supply coupled with its use cases and growing adoption will be positive for the value of the digital asset going forward.Featured image from The Guardian, chart from TradinginView.com