The macroeconomists at Lamoureux & Co are convinced that Bitcoin will be worth $25,000 and more in the long run.
Thanks to the incidents we reported elsewhere regarding the Bitcoin stock markets in China, the price fell by almost ten percent, that is, by 100 dollars. At the moment, however, the share price seems to be recovering.
According to Yves Lamoureux, this is only the beginning. In a recent article, he states in various places that we are in a bubble of Bitcoin. Investors who otherwise tend to invest in hard assets such as gold or other precious metals and venture capitalists now smell the big deal.
Bitcoin as the world’s leading crypto trader currency
This assumption is also shared by the crypto trader of Netcoins: Michael Vogel believes that Bitcoin could become a global crypto trader currency by 2020. If this were to happen, it is to be expected that the price would rise dramatically.
Tim Draper, a top-level investor whose investments are in the millions of dollars range, is also thinking in a similar direction and believes that Bitcoin will gain significantly in value. But he suspects another mechanism behind it: “Many investors currently seem to want to invest in Bitcoin start-ups rather than in Bitcoin. They are convinced that these start-ups will gain importance – and that the price of Bitcoin will rise rapidly as a result.
Three years ago Tim Draper made the bold prediction that in 2017 a Bitcoin would be worth $10,000. Even if you are far away, he trusts that this also applies to the end of the year and remains true to his predictions.
In a previous article, Lamoureux argued that hyperinflation controlled by the central bank would begin in a few years, with Bitcoin and other encrypted currencies benefiting from this hyperinflation.
Currently, however, it has a different position: it compares the expected increase in the value of Bitcoin with that of gold: when gold was traded for 300 dollars, people invested mainly to escape the monetary devaluation.
In this sense, not much has changed in commercial behavior for a hundred years:
People invest when they can hope to make a profit. But for that to happen, most potential investors need to be convinced that an investment is worthwhile.
“Whether it’s tulips, real estate: Bubbles need active investors. With more and more use cases, the technology blockchain is becoming ubiquitous – which in turn gives the technology behind Bitcoin confidence and investors. We believe that encrypted currencies like Bitcoin are currently in such a cycle.