PayPal board member: Bitcoin (BTC) value can increase by 250x if successful
Although Bitcoin (BTC) and other cryptocurrency can in many ways constitute significant competition in PayPal, a member of the company's board has recently presented a case for where he sees the cryptocurrency headline next and specifically says he thinks it is a good chance Bitcoin succeeds and achieves extensive decisions within the next decade.
Wonders Casares, CEO Xapo – one of the largest cryptocurrency custody solutions – and a board member of PayPal, posted this overwhelmingly bullish case for Bitcoin in a recent blog
Casares: Bitcoin (BTC) has at least 50% chance at to succeed
Casares, who has been pronounced by his support for Bitcoin and Crypto markets in the past, shared his thoughts on where he sees the emerging technology post next in a recent post on the Kana and Katana blog, and publishes a strong The case for why most portfolios should already find up to 1[ads1]% of their Bitcoin holdings.
In this post, he points to increasing adoption, a constant influx of new investors and a significant increase in transaction volume since its inception, as just a few reasons why the digital asset has at least a 50% chance of success.
"After 10 years of work without disturbing, with more than 60 million holders, adding more than 1 million new owners a month and moving over $ 1 billion a day worldwide, it has a good chance of success. In my (subjective) opinion, these chances are to succeed at least 50%, he explains.
Despite this, Casares also explained that despite the strong fundamentals of Bitcoin, he believes that the chances of it not being at least 20 %.
"Bitcoin is a fascinating experiment, but it's still just that: an experiment. As such, it still has a chance to fail and become worthless. In my (subjective) opinion, the chances of Bitcoin failing at least 20%, he says.
If Bitcoin Succeeds, the value can increase as high as $ 1 Million
Although he is still clear in his assessment that Bitcoin is still in an experimental phase, and as such, there is significant risk of investing in it. Casares also notes that if the crypto course succeeds and reaches its full potential, the value may increase and the price of each BTC will be over $ 1 million within the next decade.
"In my (subjective) opinion, the chances of success are at least 50%. If Bitcoin succeeds, 1 Bitcoin can be worth more than $ 1 million in 7 to 10 years," he noted.
Given this analysis and the massive potential of Bitcoin to create widespread adoption and increasing value, invested investors can take some comfort in the strong chance that BTC one day will surpass its all-time heights.
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