On Friday, December 14, Jeremy Allaire, co-founder of crypto finance company Circle, told CNBC in an interview that, Bicoin (BTC) will be worth “a great deal more” than the current value.
Allaire has said Squawk Box host Andrew Ross Sorkin three years back about the Bitcoin price that, he does not make “significant price predictions,” meanwhile adding, “I think it is certainly going to be worth a great deal more that it is today.” In fact he also stated that, a bunch of other tokens may get the space uncontrollably and their value base will get diverse when Bitcoin is get attracted as a non-state store of value. He further explained:
“I do not think it’s a winner-take-all [situation]. We have the phrase ‘the tokenization of everything,’ and we think cryptographic tokens are going to represent every form of financial asset in the world. There will be millions of them in years.”
When noting that United States has “more regulatory clarity than almost any other market in the world”, the crypto sphere needs clearer regulation, says Allaire. There arrived a much needed clarification when the Circle co-founder came forward that if crypto assets are cryptocurrencies or commodities. He was also secured about the regulations necessities in the mean time of secondary trading of digital securities or a “kind of commodity spot market supervision for the crypto space”.
Bloomberg has reported this week earlier that, Thomas Lee, a cryptocurrency bull and co-founder of Fundstrat Global Advisors has claimed that the value of Bitcoin (BTC) is appreciably higher than the current price. Considering the number of active wallet addresses, usage per account and factors influencing supply, it has been marked by the veteran market analyst that, Bitcoin’s fair value is between $13,800 and $14,800 and he also had expressed the Bitcoin value could reach $150,000 after a wide adoption.
A commissioner of the U.S. Securities and Exchange Commission (SEC) Hester Peirce dubbed “Crypto Mom” by the community for her pro-crypto stance for the crypto adoption by expressing that the process might prolong with the process. She influenced the public not to ‘hold its breath,’ and keep waiting for a Bitcoin ETF, as it would take up to ”20 years away from now or it could be tomorrow too”.