Blockstream CEO Concerns Bitcoin Prediction, $500k/BTC Possible After Gold “Flippening”

As per the latest news published in Etherum World News Bitcoin, (BTC) has been recognized a recent up to date decrease in $4,400. Among an extensive market bout of (conceivable) submission, as per the co-founder of BTCC Bobby Lee, as well as the brother of Litecoin’s Charlie Lee, has taken Twitter as their source to drop few of their company’s announcement.

To be expected to reference Bitcoin’s due to recognition as the digitalized corresponding of gold, Lee stated that every BTC in the movement like market capitalization is at present one-hundredth the worth of gold, a supposed $8 trillion.

Knowing to this comparatively less estimate inattention, and his opinions that Bitcoin’s unique nature as an uncommon, borderless, censorable, and apparent store of price, the “protector” of Bitcoin referred to the statement and truth that over time, BTC can overthrows gold. So, moving on BTC/XRP and ETH/XRP flipping conversation’s new increase to importance, Lee gave the subsequent query to his dedicated following —he asked that What will the proportion (gold/BTC) be in 10-20 years [and] could BTC be worth more?

In a tweet replying to Lee’s keen understanding and remarks, the CEO of San Francisco and Victoria-based Blockstream Adam Back, responded that the BTCC co-founder’s long-term strong sentimentality. Initially, a self-announced cypherpunk and the creator of HashCash (a Proof of Work protocol/system now part of the Bitcoin Network).

While Lee again stated that Back’s call in a deceptive sign of provision, later it was noted that the BTCC co-founder, Bitcoin’s long-term move to the advantage would not come easy. The crypto advocate of five years mentioned that crypto’s current bear market could be far from over. Echoing his previous calls and analysis done by BitMEX Research’s team and CEO Arthur Hayes, the Bitcoin Foundation board member explained that bears could maintain control over this market ’til Bitcoin’s next block splitting activates.

About author


Jason Bailey is a financial journalist of EverCoinNews team and he is a strong believer of blockchain technology primarily because of how it reshaping the world economy and benefits of cryptocurrencies. He curates content for upcoming news stories of blockchain world and fintech industry. In his free time, he loves to explore new places and connect with influential people of crypto space.

Leave a Reply

Your email address will not be published. Required fields are marked *