Bitcoin [BTC] may hit $25000 soon, says TechCrunch founder Michael Arrington
TechCrunch founder Michael Arrington believes that Bitcoin (BTC) could reach $25,000 in just a few months. Ran Neu-Ner interviewed Arrington at the Korea Blockchain Week. During the interview, he said that Bitcoin (BTC) ETFs would be a game changer for the leading cryptocurrency in the world by market cap.
Arrington of Arrington’s XRP Capital also revealed about the asset value of XRP, the token’s use-case, investments made for Arrington’s XRP Capital. When asked about why he started his Arrington’s XRP Capital fund and why he chose XRP, he explained how XRP is an excellent means of moving money across borders.
“Ripple, or in this case XRP, the actual currency is a really, really good way to move money. We denominate our fund in XRP because it is a fantastic way to move money across borders quickly and at almost zero cost. So there is a lot of tribalism in cryptocurrency, and a lot of Bitcoin maximalists… The one thing they all agree on is that all of them hate XRP because it is centralized, they think it is corporate-managed,” He stated.
He explained why it was advantageous to invest in XRP in comparison to other major cryptocurrencies, as they were still trying to gain more efficiency.
He, however, cited some risk factors that may deter investors from solely investing in XRP, adding that that only a narrow percentage of his company’s fund is holding XRP, the rest of the fund is vastly diversified.
In addition to this, Arrington’s XRP Capital is involved in quite a few of them and might see a lot of compelling applications come out by the next year with regards to investments decentralized applications [dApps], exchanges and more. He also acknowledged the growing entrepreneurial activities taking place in South Korea.
See also: Wall Street Exec Mike Novogratz: A ‘Herd of Institutional Investors’ Is Moving Into Crypto
Neu-Ner inquired about the ‘cash position’ of Arrington’s fund. Arrington’s response was: “Let’s say there’s a hedge-fund in Tokyo, if they hold in dollars, isn’t that also a cash position? It’s really hard to know. We hold a lot of Bitcoin; we hold more Bitcoin than anything else. We hold a lot of Ether, we’ve a lot of USD. Occasionally, we hold Tether overnight. So, I don’t know which ones are the cash positions. They’re all either currencies or have different utilities.”
The final question posed to Michael Arrington was about Bitcoin (BTC) from the perspective of the upcoming Bitcoin ETFs. Both of them nodded as a sign of agreement that Bitcoin (BTC) Exchange Traded Funds would be a game changer for the leading cryptocurrency in the world by market cap. Michael Arrington considers that Bitcoin (BTC) could reach $25,000 in a few months.
He stated, “My entire life has been in cryptocurrency, we’re on bullish on it. But I’m always an optimist, right? I think we’re still gonna hit $25,000 this year easy and I sure hope we’re at a low right now.”
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