Regarding the price forecast for Bitcoin this year, visionary Max Keiser opined: “My $220,000 estimate has been pushed back to 2022. Bitcoin’s basics are all roaring upward.” In 2021, mining prohibition in China was a one-time glitch. I’m en route to El Salvador, where the Bitcoin movement will spread and drive fiat currency out of existence.”
The announcement has been made at a time when Hungarian billionaire Thomas Peterffy, who was cynical about cryptocurrencies earlier, has claimed it was reasonable to hold 2% to 3% of one’s personal wealth in Bitcoin only in a scenario where fiat currency goes horribly wrong. Peterffy’s firm, Interactive Brokers Group Inc, has introduced the ability for its customers to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and even Bitcoin Cash (BCH).
This was done after understanding their customers’ “eagerness.” to have exposure in the crypto sector. Peterffy, 77, stated that Connecticut-headquartered Greenwich, Interactive Brokers, would begin trading five to 10 additional cryptocurrencies in January.
According to the millionaire, “it is feasible for the cryptos to deliver enormous profits, but the opposite is also applicable.” Ray Dalio is yet another tycoon who is passionate about Bitcoin. Of late, Dalio has stated that investing in cryptocurrencies is critical because “fiat cash is a garbage” and inflation dwindles purchasing ability.
The news came after almost 50% of Goldman Sachs Group Inc.’s family offices expressed desire to add cryptocurrency to their holdings. Another fund manager, Cathie Wood of Ark Investment Management, predicts that Bitcoin will reach $500,000 over the forthcoming five years. The year 2022 has opened with a slew of positive predictions for Bitcoin.