Although in many ways Bitcoin and other digital assets could give rise to noteworthy competition to PayPal, one member of the company’s board of directors lately laid out a case for where he sees the crypto heading next. Notably, he said that he believes there is a good likelihood Bitcoin succeeds and garners pervasive adoption within the next decade.
The CEO Xapo, Wences Casares and a PayPal board member, laid out this overpoweringly bullish case for BTC in a new blog post, noting that its value could rush forward by as much as 250x in the future. It is to be noted that Xapo is allegedly one of the largest crypto custodian solutions.
Casares shared his interesting thoughts on where he sees the promising technology heading subsequently in his latest post on the Kana and Katana blog. In the post, he is laying out a powerful case for why nearly every portfolio should assign up to one percent of their holdings to Bitcoin.
In the aforementioned post, he points to an invariable arrival of new investors, mounting implementation, and a noteworthy gush in transaction volume since its beginning as just a small number of reasons why the virtual currency has at least a fifty percent probability of succeeding.
He explained that after ten years of working well without stoppage, with more than sixty million holders, adding more than one million new holders per month and moving more than one billion USD per day globally, it has an excellent likelihood of succeeding. Furthermore, in his opinion, those chances of succeeding are at least fifty percent.
Furthermore, Casares explained that regardless of the sturdy fundamentals surrounding BTC, he does believe that the odds of it deteriorating are at least twenty percent.
Taking into consideration this analysis and the massive potential Bitcoin has of garnering extensive adoption and swelling in value, beleaguered investors may take some comfort in the sturdy possibility that Bitcoin will 1 day outshine its all-time-highs.