Crypto billionaire Brock Pierce says Bitcoin (BTC) will fail spectacularly or be a huge success.
In an interview with Fox Business, Pierce, president of the Bitcoin Foundation, said investors should refrain from betting everything on the leading crypto asset.
“[Bitcoin] It can go to zero. It is a binary result. It will either go to $1 million per bitcoin or zero. It will be one or the other, which is why you don’t have to put everything in there.
Bitcoin is trading for $36,024 at the time of writing.
According to Pierce, the cryptocurrency scene currently reminds him of the tech bubble that occurred over two decades ago, when online startups were dumped.
“Reminds me a lot of 1999, right? We’re at this point. And what came of it? eBay and Amazon and all kinds of interesting businesses came out of the Dot-Com era in the era of 1.0. And a number of them went to zero. And I think that’s going to be true on Most likely what we see here.
This does not mean that innovation is not real and will not play an important role in our collective future.
In addition to Bitcoin, Pierce reveals that he is investing heavily in a competitor to Ethereum (ETH).
“I just made a nine-digit bet on EOS. I transferred all of my Block.one actions to this one. It’s generic.
Moreover, I am very interested in what is happening inside the NFT [non-fungible token] Market. I was part of the purchase and launch of NFT.com last week.
NFT.com is a non-fungible community token marketplace that allows users to create their own profile galleries.
EOS, a smart contract platform for decentralized applications, is trading for $2.02 at the time of writing.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Main image: Shutterstock / Liu zishan