Grayscale Exec Predicts Bitcoin Surge No Matter Who Wins US Election
2024年8月20日 - 6:30PM
NEWSBTC
Zach Pandl, Grayscale Investments’ managing director, has boldly
predicted that the price of Bitcoin will surge regardless of who
wins in the upcoming US presidential election. He said this
potential increase is because of macroeconomic trends, most
especially pertaining to the assumed depreciation of the US dollar.
Related Reading: Cardano (ADA) Nears Key Level As Analyst Eyes Over
100% Upside – Details According to Pandl, the fact that Bitcoin has
a supply capped makes it an excellent hedge against inflation and
monetary debasement as the US government continues to sustain more
debt, now approaching a staggering $33.2 trillion. He expects the
dollar to depreciate over the next 10 to 20 years, suggesting this
could result in increased investment in BTC as a safe asset.
Factors Driving Bitcoin’s Potential Surge One of the major reasons
that might fuel a surge in the price of Bitcoin could be its
limited supply. It has a restricted supply of 21 million coins in
circulation, unlike central bank-issued, unlimited-supply fiat
money. It is this very scarcity that makes it an especially ideal
means of investment for people hedging against inflation and
depreciation of currencies. Grayscale bets Bitcoin price will hit
new records — at the expense of the US
economyhttps://t.co/0HG3CPzo9O — DL News (@DLNewsInfo) August 19,
2024 Randl pointed out that the rise of Bitcoin to a
trillion-dollar market capitalization actually occurred when the
dollar was strong, so it should do much better in a depreciating
dollar environment. The event could pull more and more investors
into Bitcoin, thus continuing to raise its price. Skepticism
Remains Despite Optimistic Outlook Though Pandl is optimistic, the
financial community still has its dose of skepticism as to whether
Bitcoin can indeed play a role in your portfolio as a store of
value. Many analysts have cast doubt on whether runaway inflation
can be expected or even if Bitcoin might stand equivalent to
traditional safe-haven assets like gold. This continues to
underline the intriguing status of Bitcoin among all
cryptocurrencies. Related Reading: Shiba Inu Skyrocketing
Potential: Could SHIB Surge 500%? The key thing here is that
investments in Bitcoin face too many risks, and investors should be
wary of these risks before they make any investment decision.
Cryptocurrencies are known to be very volatile, meaning that their
prices fluctuate based on several factors. Cautious Optimism For
Bitcoin In the wake of the US election, the Grayscale executive has
made a strong case for the surging value of Bitcoin regardless of
the outcome of the US election. Of course, as far as investment
consideration is concerned, an investor should be extremely careful
about his or her risk tolerance. With debate about whether Bitcoin
can be classified as a store of value never far away, it’s anyone’s
conjecture if Pandl’s predictions come true. Featured image from
DALL-E, chart from TradingView
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