Who is Balaji Srinivasan, And Why Should We Care About His $1 Million Bitcoin Prediction?
There being a lot of opinions going on everywhere recently, especially in the cryptocurrency space, I was on Twitter a few minutes ago, and I also stumbled on the same news with different user's dropping their view on whom Balaji Srinivasan is, one funny thing right now is that their is a lot of criticism going on as some are on his side and some also going against him due to his recent Bitcoin Prediction
I could have joined them on Twitter to actually dropped my view, but I was reluctant as I really wanted to understand who this man his before I even say anything.
Balaji Srinivasan
A prominent entrepreneur and venture capitalist in the technology industry, a man known for his work in the Blockchain and cryptocurrency in general, a co-founder of some companies which include earn.com(Which was later acquired by Coinbase) and counsyl too(which was also acquired by myriad Genetics)
His Bitcoin Prediction
He has been in the system for a very long time and has been relevant, he as made so many predictions about the future of Bitcoin in the past too.
In December 2022 he was again at it, when he said the token will definitely be hitting a record-breaking figure of $1 Million per coin by the end of 2025, this as indeed makes several individuals to call him a joker.
Balaji Srinivasan prediction, according to him, was based on some factors which includes, growing adoption by institutional investors and an increase in mainstream awareness of the coin, he made it clear that he strongly believes that Bitcoin May eventually becomes a store of value that will be on the same level with Gold, that's limited supply and deflationary nature could eventually increases it demand and price in the society.
With all that, this prediction as indeed generated a lot of talks and controversy too in the crypto world today, with so many individuals going head-to-head as a result of this.
My Opinion
I honestly don't totally see the reason why so many individuals are having issue with this prediction, regardless where it's coming from currently, it is crucial that we all know that it's just a single person's opinion which doesn't totally dictate what will eventually happen to Bitcoin, investor's should also know that it's essential to consider one or two risks attached to the token which includes regulatory changes, market volatility and technology risk among others.
It's of more advantage that investors should always do their own research and due diligence before proceeding on an investment, regardless of what someone or the world is saying at that moment.
Readers Opinion*
Do You think Balaji is right with his prediction or his just joking, what's your take on Bitcoin hitting $1 Million by the end of 2025?
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It's certainly possible.
Have you see the chart of hyper inflating German marks during the 1920s?
People have been calling for an end to USD hegemony for decades now.
The massive expansion of the money supply during covid lockdowns, followed by rapidly increasing interest rates over the past year could be the final straw on the camel's back.
You know what they say, "Gradually, and then all at once".
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