{"id":378343,"date":"2019-04-15T12:04:54","date_gmt":"2019-04-15T12:04:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=378343"},"modified":"2024-06-11T07:39:18","modified_gmt":"2024-06-11T07:39:18","slug":"executive-everyone-should-own-some-bitcoin-1-million-likely-in-7-years","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/executive-everyone-should-own-some-bitcoin-1-million-likely-in-7-years\/","title":{"rendered":"Executive: Everyone Should Own Some Bitcoin, $1 Million Likely in 7 Years"},"content":{"rendered":"
To many crypto enthusiasts, Bitcoin (BTC) is their entire world. To the world, however, the cryptocurrency is nothing but a blip on the global radar of finance, hence why so few have purchased BTC and other digital assets.<\/p>\n
Wences Casares, the chief executive of Xapo, recently sought to change this, publishing an extensive essay to crypto hedge fund Ikigai’s in-house<\/a> blog to explain why everyone and anyone should own some Bitcoin. Casares even quipped that not owning the asset may be slightly irresponsible at best.<\/p>\n While you may not know his name, Casares has long been an integral part of the cryptocurrency community. In fact, he has been titled “Patient Zero” by many in the space, specifically due to the fact that once he caught the Bitcoin bug, it spread like wildfire across Silicon Valley and other circles of influence.<\/p>\n Patient Zero recently sought to continue his reputation as a catalyst for adoption with the aforementioned post, titled “The case for a small allocation to Bitcoin.”<\/a> The title may sound innocuous, but the information contained in the essay-esque article blew socks off the feet of investors across the industry.<\/p>\n Casares claimed that while Bitcoin has a 20% chance of failure from his perspective, citing the fact that it remains an experiment, he is more than 50% sure that the cryptocurrency will succeed beyond our wildest dreams. He looks to the fact that BTC has existed for 10 years with (basically) zero interruption\/immutability concerns, and that Bitcoin has a rapidly growing user base and an active transactional use case.<\/p>\n Casares adds that if Bitcoin succeeds it may be valued at a drastically higher price than it is now. As reported<\/a> by NewsBTC previously, a BTC that succeeded could be valued at $1 million apiece, 200 times higher than current prices, and all this could be accomplished in ten years.<\/p>\n He’s far from the first to have made such a call. Cybersecurity pioneer and presidential candidate John McAfee and Jesse Lund, the chief of IBM’s blockchain division, are two other prominent industry insiders to have claimed that seven figures are in Bitcoin’s cards.\u00a0<\/a><\/p>\n Even if BTC has the fleeting potential to hit $1 million, wouldn’t purchasing an asset with a high failure potential be entirely irrational? You may be asking. To some extent, yes. But in the eyes of Casares and his peers, it is a risk that is entirely logical to take, barring that you only invest what you can lose. Here’s why.<\/p>\n From an institutional perspective, many crypto diehards see a smidgen of an allocation of BTC to make sense, especially in today’s world of underperforming investments and asset classes.<\/p>\nRelated Reading: Slowing Macroeconomy Could Be A Boon For Bitcoin & FAANG Stocks: Researchers<\/a><\/h6>\n
A $1 Million Bitcoin<\/h2>\n
Related Reading: BitMEX CEO: Bitcoin Still An Experiment, But Has A Bright Future<\/a><\/h6>\n
Why Everyone Should Own BTC<\/h2>\n