The Future Of Bitcoin, Debated By Two Important Names In The Crypto Space
There have been a lot of predictions regarding the price of Bitcoin (BTC). Now, two important names are weighing in on the future of BTC.
Anthony Pompliano And Peter Schiff talk about BTC
Bitcoin bull and Morgan Creek Digital co-founder Anthony Pimpliano, together with CEO of Euro Pacific Capital Peter Schiff are talking about BTC. They were on CNBC’s Crypto Trader.
The two debated the future of Bitcoin, and Schiff said that Bitcoin lacks utility and a real-world use case:
“Bitcoin has much more in common with a fiat currency than it does with gold because gold’s value is derived from its physical properties that make it desirable and make it useful,” Schiff said.
He continued: “Whereas Bitcoin’s value is derived from the confidence that people are going to want it in the future even though it has no physical properties or any other properties you can use it for…”
He continued and said: “The problem with Bitcoin and the idea it can be a store of value is it has no value to store. There is nothing you can use Bitcoin for. The value for Bitcoin is completely a function of the confidence that people have that they’ll be able to give it to someone else in the future at a higher price.”
Pompliano said that BTC’s cryptographic security and the ability to transact peer-to-peer is what gives BTC its worth as a store of value.
Head over to the Daily Hodl’s article to find out more and check out the video as well.
Bitcoin bull run is just getting started
It was recently reported that Changpeng Zhao, Binance’s CEO said that the correction has been healthy for the industry.
He also said that we’ll witness an altcoin season with better results compared to the ones in 2017 due tot he fact that the crypto industry is much healthier and more mature now.
Famous crypto analyst Willy Woo says that BTC will surge and he uses an indicator as proof.
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