Bitcoin Price Could Hit $300,000 Post-Halving, Expert on Warren Buffet Predicts

Michael LaVere
  • Preston Pysh, an expert on Warren Buffett, predicts the price of bitcoin will reach $200K - $300K following next month's halving.
  • Pysh said the price would hold at $80K - $100K until the next four-year halving event. 

Warren Buffett expert Preston Pysh believes the price of bitcoin will reach as high as $300,000 following next month’s halving event. 

Pysh, who founded the financial learning platform Buffett’s Books, made his comments in a podcast interview on April 22 with host Nathan Lathka. 

According to Pysh, the price of bitcoin is going to skyrocket following next month’s halving, with the possibility of reaching $200,000 - $300,000. 

He said, 

I would tell you that I think the next orbit level is $80,000 to $100,000. Do I think it’s just going to go to that number and stop? Hell no.

Pysh cited electrical expenses and mining costs as a main driver for the price of bitcoin. He also predicted a possibility for the coin reaching mainstream adoption several months after the halving, resulting in the price going higher than current market predictions. 

He continued, 

It's gonna go straight through that number, and it's probably gonna go to $200,000 or $300,000.

Pysh said if bitcoin failed to meet its “escape velocity” and breakout to his most bullish prediction, the price would likely settle back into the $80,000-$100,000 range until the next four-year halving. 

Featured Image Credit: Photo via Pixabay.com

Tim Draper Reveals He Owns Cryptocurrencies Other Than Bitcoin

Michael LaVere
  • American venture capitalist Tim Draper revealed owning more crypto-assets than just bitcoin.
  • Draper expects the value of bitcoin to increase as a result of the Federal Reserve's money-printing tactics. 

American venture capitalist and bitcoin bull Tim Draper claims to own “a lot of other cryptocurrencies” in addition to BTC. 

Speaking in a recent interview with British entrepreneur Rob Moore, Draper claimed that his diversified portfolio in crypto-assets had led to him being “surprisingly up” despite the economic impact of the coronavirus. 

He said, 

You know, when I played Monopoly, I never showed anybody how much money I had so so that you're not gonna get an up or down.

Draper also criticized the U.S. Federal Reserve’s money-printing response to the COVID-19 pandemic, which he said would lead to the dollar crashing in value. He claimed the impact of the falling dollar would drive more value into bitcoin. 

He said, 

There are only 21 million of them and they are going to be more and more valuable as you see governments have less and less.

Draper continued, saying his experience working as a venture capitalist and interviewing entrepreneurs has given him a “pretty good view” of what the future is going to look like. He expects governments to move towards decentralization in a competition for their own citizens. 

Featured Image Credit: Photo via Pixabay.com