The chief executive of crypto consulting firm Parallax Digital is predicting the massive expansion of the US dollar supply in the next ten years, which he says will ignite Bitcoin’s meteoric rise to $12.5 million.
In a new interview with Kitco NEWS, Robert Breedlove addresses the issue of Bitcoin’s volatility after the leading crypto asset plunged over 50% from its all-time high in a matter of days.
“Volatility is a natural function of price discovery and it tends to contract as market cap expands so that’s inversely proportionate to market cap. We’ve seen that pattern play out with Bitcoin that its volatility is actually contracting. As a store of value, it really comes down to how you define a store of value. So Bitcoin is an asset that’s monetizing in real-time… It’s competing for a $250 trillion marketplace, which is global store of value. So it’s very nascent relative to its total addressable market…
Historically, gold was the technology