Lou Kerner Says Bitcoin Can Reach $100,000 if BTC Becomes a Store of Value
It seems that 2019 starts with positive comments from individuals in the cryptocurrency world. Lou Kerner, a partner at CryptoOracle and a recognized influencer in the space, believes that Bitcoin could reach new all-time highs in the future.
During an interview with Bloomberg, Kerner said that Bitcoin is going to become a store of value in the future. He compared the most popular virtual currency in the world with gold, which is an $8 trillion asset. Now, Bitcoin has a market capitalization close to $65 billion, and according to Kerner, it can grow 100 times more.
He has also talked about the bear market that virtual currencies experienced during 2018. He mentioned that for as long as he can remember, Bitcoin followed a pattern of a continuous rise and fall throughout the spectrum.
Furthermore, he commented that Bitcoin is going to completely change the world, even more than the internet itself. He said that Bitcoin is similar to Yahoo, it is something big but not ‘the’ thing. He went on saying that cryptocurrencies are currently at the very beginning and in 20 years they will reach very high prices. He believes that Bitcoin can reach $100k if it becomes a store of value.
About it, he commented:
“If Bitcoin becomes a good store of value, then it will hit $100,000. The current dip is normal in cryptocurrencies and is evident if you look at the history of other currencies. Across history, you can see that almost all the coins have dipped to zero.”
Moreover, he went on saying that the US Dollar is a Ponzi scheme. Citizens and the country will never be able to pay off the trillions of dollars of debt that the United States currently has.
He has also criticized Bitcoin’s decentralization explaining that as it has no functional governance, it is more complicated for it to evolve. This is something that XRP supporters mark about Bitcoin as well. Ripple Labs is a company that works with XRP and focuses on this virtual currency as few other companies in the market do.
He is positive about 2019 and how Bitcoin’s price will evolve during this year. He said that Bitcoin is going to grow from where we currently are.