Digital Assets: Bitcoin In The Crystal Ball

January 3, 2022 | Digital Assets, News
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Predictions for bitcoin from eminent personalities.

What the crystal ball shows for bircoin, according to people who should know.

Ray Dalio

Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has again sounded his warning of impending regulatory measures against cryptos.

On Saturday, on the Investor’s Podcast Network, Dalio said that regulatory clouds loomed over the leading crypto:

“When you have an alternative currency, that’s a threat to every government,” he explained. “Every government wants a monopoly in their own currency and particularly if you get a better currency because it doesn’t get devalued.”

“In history, they’ve outlawed gold and they’ve outlawed silver and so on, and they could outlaw bitcoin.” (Bitcoin.com)

El Salvador President Nayib Bukele

President Bukele, a perennially bullish supporter of bitcoin, predicted for 2022:

· “Will reach $100k

· 2 more countries will adopt it as legal tender

· Will become a major electoral issue in US elections this year

· Bitcoin City will commence construction

· Volcano bonds will be oversubscribed”

Wharton’s finance professor Jeremy Siegel on bitcoin

Jeremy Siegel, finance professor at the Wharton School of the University of Pennsylvania, speaking on CNBC on Friday, said millennials had taken to bitcoin in preference to gold.

“Let’s face the fact, I think bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold … Digital coins are the new gold for the millennials,” he observed.

“Old people remember the 1970s,” he continued. “That inflation time, gold soared. This time it is not in favor.”

On a somber note, Siegel issued a dire warning on inflation, saying that the Fed was so far behind the curve in its assessment that it would have to hike many more times than what the market expected.

Related Story: Bitcoin Unlikely To Reach Stratospheric Heights, Says Dalio

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