The CEO of Valkyrie Investments, Leah Walk, has revealed during an interview she believes the price of the flagship cryptocurrency will move up over the fourth quarter of the year, and disagreed with JPMorgan CEO Jamie Dimon’s opinion on BTC being “fool’s gold.”
Speaking on Bloomberg Quicktake, Leah Wald noted that the $50,000 mark was a psychological barrier that needed to be breached, and that if the cryptocurrency manages to remain above that level the firm expects the bull run to “take it to near highs.”
According to CryptoCompare data, the price of bitcoin has breached the $50,000 mark this week and is currently trading at $54,000. The cryptocurrency may be moving up on rumors suggesting the U.S. Securities and Exchange Commission (SEC) will approve a BTC exchange-traded fund later this month.
As CryptoGlobe reported Bobby Lee, a cryptocurrency industry veteran who co-founded the BTCC exchange and is the brother of Litecoin creator Charlie Lee, has revealed during an interview he expects bitcoin to see a rally driven by fear of missing out (FOMO) by the end of the year that will take its price above the $100,000 mark.
Adam Back, the CEO of blockchain technology firm Blockstream and the third person to ever own bitcoin, has also suggested that BTC hitting $100,000 this year is “quite possible,” before saying that in the long run hitting the $500,000 mark is “feasible.”
When asked for a bitcoin price prediction, Wald dodged the question, and said instead she was excited for the fourth quarter of the year. Commenting on JPMorgan CEO Jamie Dimon’s opinion on BTC, she said:
I obviously don’t think that it is fool’s gold. I think it is a wonderful digital gold and has done a brilliant job of nailing that store of value narrative.
The CEO added she believes we’re “still in a collectibles phase,” with the crypto industry still establishing itself. Per her words, it’s becoming one of the strongest monetary networks and “absolutely a digital store of value.”
She added regulators in the U.S. are taking a careful approach to the cryptocurrency market, which is a “good thing.” As for central bank digital currencies (CBDCs), Wald said these could help solidify and strengthen bitcoin’s case.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured image via Unsplash