Bitcoin Foundation chairman and billionaire investor Brock Pierce says that one catalyst could take Bitcoin’s price to $200K this year.
Speaking in a recent interview with Fox Business, Pierce said that he was mostly focused on external influences shaping the price of Bitcoin and the crypto markets. He alluded to governments around the world printing a “massive amount of currencies” and the continued impact it would have on inflation as one particular price driver.
According to Pierce, the price volatility of Bitcoin offers outsized returns for investors and could continue to serve as a catalyst for the digital asset’s price growth.
As reported by The Daily Hodl, Pierce said,
Remember this is an alternative asset and It’s really one that isn’t a hedge per se as gold or real estate maybe or more so because it has more risk and greater volatility, but also a much more interesting return profile.
Pierce told the show’s host that financial uncertainty in the context of a broader global financial system would be the “primary driver” for Bitcoin’s price growth. He also mentioned that it was highly likely that Bitcoin could breach the six-digit mark in 2022, even going as high as $200K before falling back again.
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.