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As the Bitcoin price<\/a> has fallen throughout 2018, investors have sought solace in chaotic waters. Case in point, consumers en-masse have latched onto institutional forays, promising crypto-centric platforms, and ambitious price predictions from this industry\u2019s finest in a bid to stay afloat. Investors\u2019 thirst for the latter was quenched on Friday, as\u00a0Jeremy Allaire, CEO of the Boston-based fintech upstart Circle<\/a>, sat down with CNBC\u2019s Squawk Box.<\/p>\n What does the future hold for bitcoin? Circle CEO Jeremy Allaire said he thinks three years from now “it’s certainly going to be worth a great deal more than it is today.” https:\/\/t.co\/EjNDF1wbuC<\/a> pic.twitter.com\/MoI7r9j7rD<\/a><\/p>\n \u2014 CNBC (@CNBC) December 14, 2018<\/a><\/p><\/blockquote>\n In a short interview<\/a> with the outlet, Allaire, a long-time internet entrepreneur, opened up his segment by claiming that from a fundamental perspective, Bitcoin (BTC) and Ethereum (ETH<\/a>) both look oversold. The Circle chief claimed that the \u201camount of usage\u201d on the two networks justify higher short-term valuations for their respective assets.<\/p>\n Discussing the same topic from a long-term outlook, Allaire noted that while he isn\u2019t exactly inclined to issue \u201csignificant price predictions,\u201d he sees abounding potential\u00a0in a network like Bitcoin, a system that facilitates\u00a0a non-sovereign, store of value, and digital gold-like asset with a clear underlying thesis.<\/p>\n Keeping this in mind, the American claimed that he \u201cit is certainly going to be worth more than it is today\u201d in three year\u2019s time, before maintaining that he is \u201clong\u201d on the Bitcoin price, even as bears roam free. Articulating what is behind his nebulous, yet bullish forecast, Allaire stated:<\/p>\n \u201cThe key thing with bitcoin is [that] it\u2019s unique in its security and scale. And as an idea that we need a scarce [and] non-sovereign store of value that individuals can hold, and hold in a protected fashion, [Bitcoin] is attractive all around the world.\u201d<\/p><\/blockquote>\n By the same token, Allaire, who doesn\u2019t seem to embody the hallmarks of a Bitcoin maximalist, went on to note that he envisions a future filled with millions of crypto assets, whether they take the form of security, commodity, or utility tokens. In short, the long-time crypto advocate noted that he doesn\u2019t believe cryptocurrencies are a \u201cwinner takes all\u201d scenario, instead, he made it clear that a multitude of projects can live in relative harmony, due to this innovation\u2019s ground-breaking potential.<\/p>\n Allaire isn\u2019t the only industry insider to have appeared on CNBC to laud cryptocurrencies and their potential for the long haul. As reported by NewsBTC previously<\/a>, Michael Bucella, a Goldman Sachs executive turned BlockTower Capital partner, made it clear that as the \u201csmartest money is moving into\u201d this industry, long-term legs upward are likely.\u00a0Expanding on what he meant by \u201csmartest money,\u201d Bucella drew attention to the interest that MIT, Harvard, Stanford, and Yale have endowed onto cryptocurrencies and the firms maintain this ecosystem.<\/p>\n <\/p>\n The post Circle CEO: Bitcoin Price Will Boom In Years To Come<\/a> appeared first on NewsBTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"\n
Jeremy Allaire Bullish On Bitcoin Price, \u201cTokenization Of Everything\u201d<\/h2>\n
Related Reading:\u00a0Prominent CEO: Bitcoin Isn\u2019t Digital Gold Yet, But $10,000 Is Still Possible<\/a><\/em><\/h5>\n
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