While some investors may see Bitcoin’s current prices as a peak for the asset, industry professionals believe that the crypto asset will continue to surprise investors as more global wealth managers allocate their funds to BTC.
In an interview with Cointelegraph managing editor Gareth Jenkinson, Pierre Rochard, the vice president of research at Riot Platforms, and Dylan LeClaire, the director of Bitcoin Strategy at Metaplanet, shared their thoughts on what lies ahead for Bitcoin (BTC).
Bitcoin to enter a “crazy decade” ahead
Speaking to Cointelegraph at the Bitcoin Amsterdam 2024 conference, Rochard said there’s a misleading narrative that Bitcoin gains are in the past. The executive said that from a global wealth balance sheet perspective, Bitcoin adoption is “still less than 1%.” He explained:
“While people look at the historical price action of Bitcoin and they think, ‘oh, all the gains are in the past, now it’s a boring asset.’ I think that that’s a very misleading narrative and that they’re going to be caught surprised.”
LeClaire echoed the sentiment. The Metaplanet executive believes that right now is still “an exciting time,” and Bitcoin will see what he describes as a “crazy decade ahead.”
Is Hyperbitcoinization already here?
When asked if Hyperbitcoinization — the belief that goods and services will eventually be priced in Bitcoin instead of fiat money — would come in two to three years, Rochard said that it may have already arrived. He told Cointelegraph:
“With Larry Fink going on TV and saying that Bitcoin is above government, it does feel like Hyperbitcoinization has already arrived where we’re there. And then it’s just a matter of getting the word out.”
The executive described the development as a pivotal shift, as the leader of a firm with trillions in assets under management would speak earnestly about Bitcoin.
“I don’t get the impression that he’s just trying to sell a product. I get the impression that he’s actually orange-pilled. And, you know, he’s on board with it,” Rochard added.
LeClaire also noted that the current situation is “quite something to behold,” as BlackRock pitch decks and CEOs on CNBC echo the talking points of Bitcoin maximalists for the last decade.
The executive said that some of the arguments that Bitcoiners have published through the years are now being talked about by “industry titans of finance.”
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