The CEO of an investment firm with billions of dollars in assets under management is predicting that the price of Bitcoin (BTC) will hit seven figures while Ethereum (ETH) will reach six.
U.S. Global Investors head Frank Holmes says that, due to Bitcoin’s scarcity and growing adoption, the flagship cryptocurrency can appreciate by around 1,600% from current levels over the next decade.
“It’s Metcalfe’s Law. And because Bitcoin is capped at 21 million coins and Metcalfe’s Law says that the price can grow exponentially.
And what’s happened, and has continued to happen by other channels and what happens with PayPal – PayPal allowed investors to buy fractions. And then as it went up, they could peel off a piece and buy a new TV.