Bitcoin can be considered as the store of value for the internet and it will continue in that role in the destined future.
In the week starting from Nov. 18, Donald Trump nominated Scott Bessent as U.S. Treasury Secretary
The speculation to cross the $500k mark in the coming years shows the positive attitude that the largest cryptocurrency has earned through its statistics.
As per the speculations of the co-founder of the Ethereum blockchain, Charles Hoskinson, the price of Bitcoin will go up to $500,000 in the coming two years. The prediction was made through a new video by Hoskinson posted on November 26.
In the video, Hoskinson said that Bitcoin will be hovering at $250k to $500k in the coming one to two years. The reason for this is the investment inflows as well as the great interest that has been gained.
He mentioned that in no time the ecosystem will witness the worth near to that of gold. And now, the initiation has so far been done. In short, Bitcoin can be considered as the store of value for the internet and it will be continuing in that role for the destined future now that it has a DeFi layer.
Rules will be made by industry lovers
The co-founder also mentioned that he thinks that BTC will eclipse DeFi as well as other ecosystems in the crypto industry in the coming three years because of scalability and liquidity. The government is planning to have a strategic reserve of Bitcoin and only BTC as it is their entry point.
The reason for the recent surge is primarily driven by the election of the United States in which Donald Trump had a historical victory. He has promised to make a Bitcoin Reserve within the boundaries and he has recently marked the 16th anniversary of the White Paper of Bitcoin.
In July 2024, at the Bitcoin 2024 Conference in Nashville, the newly elected President, Trump said, “We will have laws. And from now on, the rules will be made by the industry lovers, not industry haters.”
In the week starting from Nov. 18, Donald Trump nominated Scott Bessent as U.S. Treasury Secretary, an influential role in the government with broad supervision of tax policy, international finance, and many more. Bessent has always been in favor of Trump’s calls for a national strategic Bitcoin reserve.
The positive attitude earned by BTC’s statistics
The secretory told Fox Business over the summer that nothing is off limits when we talk about cryptocurrency. BTC was very close to crossing the $100,000 mark in the last week, but since then it has been in a gradual declining state.
At the time of writing, BTC is trading at $96,113, a 0.88% up in the last 24 hours and 2.54% down in the past seven days. However, as of now, the price of Bitcoin is dipping but still, many predictions say that it will cross the $100,000 mark before the end of this year.
And, the speculation to cross the $500,000 mark in the coming years shows the positive attitude that the largest cryptocurrency has earned through its statistics.
