Founder and CEO of BKCM, Brian Kelly, has said that Bitcoin can no longer be ignored by investors. During a speech at the annual Hoover Institute Monetary Policy Conference, Kelly said that Bitcoin is a “serious Market.”
Brian Kelly Says Bitcoin Can No Longer be Ignored
Bitcoin has been capturing the attention of many investors all over the world, including hedge funds, governments and financial institutions. Back in December, Bitcoin reached its highest price level when it was trading around $20,000 – or more in some exchanges.
Brian Kelly commented at the Conference:
“When I would go to events like this in years past, you would kind of dismiss bitcoin. But it’s been brought up several times at this conference and taken quite seriously. And I think you have to with a market cap at half a trillion dollars.”
Additionally, Mr. Kelly said that Goldman Sachs’ plans to open the first bitcoin trading firm of any Wall Street bank is a great idea.
“Goldman made a big move into the cryptocurrency space,” Kelly said. “They are definitely the leaders among the institutions in the space.”
About the regulatory debate that is growing in the United States and all over the world he clearly said that Bitcoin is a currency and not a commodity or security.
About it he mentioned:
“One thing that is interesting is that bitcoin is clearly a currency. Almost everyone I’ve talked to, and people here at this event, are talking about bitcoin as a currency, not as a security.”
Tim Draper Says Bitcoin Could Reach $250,000
As he interests in Bitcoin grows, its price shows that. In the last part of the year, Bitcoin rallied as other virtual currencies later in January. The market reached new highs and it was ready to cross the $1 trillion mark.
But before 2022, Bitcoin could see new all time highs. That’s almost for sure and what all experts predict.
During an Interview with Forbes, Mr. Draper explained:
“Now I have an amazingly big, huge market to go after and I predicted that maybe Bitcoin would end up with maybe a 20% market share and I sketched those out and so I think the asymptote is somewhere around $130 trillion but only maybe $100 billion will be crypto and then maybe %20 of that might be Bitcoin… well it’s going to take 10 or 15 years to get that asymptote, so I’m thinking that along the way we are going to have Bitcoin at $250,000 by 2022.”
At the moment of writing this article Bitcoin is being traded around $900 dollars, and was ready to test $10,000.
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