Member of PayPal’s Board of Directors Believes That Bitcoin Could See Widespread Adoption Within a Decade
Bitcoin and other cryptocurrencies are trying to move toward widespread adoption, which has been the mission of this decentralized asset for years. Achieving this goal would threaten multiple entities in traditional finance, giving them more competition.
One of the biggest companies to have some competition is PayPal, though a member from the board of directors said recently discussed a situation that he sees for the cryptocurrency. The member even said that he sees Bitcoin eventually reaching to mainstream adoption within a decade.
CEO Wences Casares of Xapo, which is one of the largest custodian solutions in cryptocurrency, wrote a blog post regarding this possible circumstance. In the case he laid out, Casares shows how there is a chance of the coin seeing a 250x increase in the future.
Casares has been continually outspoken about Bitcoin and the crypto market, as he recently published a blog that suggested that most portfolios should hold 1% of their total holdings in Bitcoin.
During the post, he speaks about the growth that would happen to Bitcoin as it is widely adopted, and how the fact that the token has seen a major surge in price since its creation leads him to believe Bitcoin has a 50% shot of surviving in mainstream finance.
The attention is turned to the 60 million holders that have collectively kept the market going for a decade while growing by another 1 million new holders monthly. Each day, the coin moves $1 billion around the world. He adds that these details are based “in my (subjective) opinion” and that these factors are responsible for Bitcoins 50% odds.
While much of the attention was on the positive fundamentals of Bitcoin, Casares still believes that the odds of ultimately failing are 20%. He called Bitcoin a “fascinating experiment,” but that is all it is to him.
Bitcoin Price's Predicted to go $1 Million BTC/USD in 7-10 Years if it Reaches Its Potential
Much of the blog is clear that Casares feels that Bitcoin is at an experimental phase in its lifespan, and there is still a lot of risks associated with investing. He notes that, if Bitcoin manages to reach its potential, then the value could easily rise to $1 million per BTC in the next 10 years.
Though Bitcoin is working towards reaching that level, for now, the current performance is likely encouraging to investors that want to see the token pass its all-time highs. While there are many bitcoin price predictions floating around to consider, this one sticks seeing how it is coming from PayPal and the team.
Live Bitcoin (BTC) Price:
1 BTC/USD =$5,289.1335 change ~ -0.43%