Bitcoin will hit $5,000 next year and land somewhere between $25,000 and $50,000 in the next decade. That’s the latest big-name investor prediction for BTC — this time from Ronnie Moas of Standpoint Research.
Moas and Other Big Investors Praise Bitcoin
Moas joins a conga line of well-known financial world identities predicting bigger returns on bitcoin in the near future. Last week Goldman Sachs’ Sheba Jafari was more cautious, hinting at the high $3,000s. Billionaire Michael Novogratz predicted a whopping $5 trillion market cap for all cryptocurrencies if they can earn regulators’ trust.
$50,000 BTC in ten years is a stand-out, though. And no, we didn’t add an extra zero by mistake. According to Bloomberg, Moas also revealed to his investors that he’d bought small amounts of bitcoin, litecoin and ether himself.
— Ronnie Moas | Nomad | Stocks | BTC | Charity (@RonnieMoas) July 5, 2017
World ‘Will Fight Over Those 21 Million Coins’
Moas wrote that Bitcoin’s scarcity would make it attractive as existing currencies and investments became less so. The world would “fight over those 21 million coins”, he said, and Bitcoin would soak up at least one percent of the money currently in fiat, stocks, bonds and even gold.
Bloomberg noted that Moas reminded clients his newsletter is not intended as investment advice or as a recommendation. Nor is this article. However it’s highly likely many will take it as such.
Other investors such as Marc Cuban have warned that crypto is a giant bubble. Moas said this may be true in the short term, though he’s only slightly concerned. Longer-term, he’s a lot more bullish.
Florida-based Ronnie Moas is a long-time investor who began on Wall Street and is famous mostly for building a quantitative computer model that took five years to create and has 155 variables. He founded Standpoint Research in 2004 and is a regular commentator on mainstream financial media outlets.
Do you listen to big-name investors’ bitcoin predictions? Let us know in the comments.
Images via Twitter, Standpoint Research