Earlier in July, Ronnie Moasthe the founder of Miami-based firm Standpoint Research predicted Bitcoin will rise substantially even even the coin price was around $2500. Ronnie now sees the cryptocurrency rising by another 500 percent in near future and sees Bitcoin hitting between $300,000-$400,000.
In an interview with CNBC, Ronnie says
“Bitcoin is already up 500 percent since I recommended it in the beginning of July, and I’m looking for another 500 percent move from here,” Moas
“The end-game on bitcoin is that it will hit $300,000 to $400,000 in my opinion, and it will be the most valuable currency in the world,” Moas told CNBC’s
don’t know how much gold there is in the ground, but I know how much Bitcoin there is, and in two years there will be 300 million people in the world trying to get their hands on a few million Bitcoin
Bitcoin is not a physical currency, it is a computer code that people keep in their digital wallets online. The price of the coin is surging high because of the traders, investors jumping in and buying it in large volumes. Coinbase is the biggest website to buy/sale Bitcoin and store it online in your wallet.
Bitcoin is largely unregulated, it exists among the people who have created it, have mined it and it is out there like wild west. It is very hard to predict about the stability of Bitcoin. CEO JP Morgan and Warren Buffet raised their voice against Bitcoin few months back but the crypto-currency is picking strength every new day and just going higher.