Morgan Creek Digital Assets co-founder and partner Jason Williams says Bitcoin (BTC) could meteorically rise nearly 17,900% in five years as BTC solidifies its position as a safe haven asset.
In a Norwegian Block Exchange interview, Williams offers his bull scenario for the world’s leading cryptocurrency.
The crypto hedge fund manager highlights Bitcoin’s scarcity as a key characteristic that will attract more institutional players and continue to drive the value of the king cryptocurrency.
In the last few months, institutional players in the form of publicly traded companies have announced their entry into BTC with multi-million-dollar investments.
In September, business intelligence company MicroStrategy upped their BTC investments to $425 million. Last month, payments giant Square revealed that it made a $50 million BTC acquisition.
With more institutions flocking into the number one cryptocurrency, Bitcoin Treasuries reveals that publicly traded companies have increased their BTC holdings from over $6.9 billion in mid-October to $10.7 billion this month.
At time of writing, BTC is valued at $13,721 according to CoinMarketCap.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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