Bobby Lee, who was at the helm of the world’s oldest cryptocurrency exchange BTCC, thinks there are brighter days ahead for bitcoin. Lee cited that in the coming years, bitcoin is likely to reach the elusive million-dollar mark. He offered the outlook while at the Malta AIBC summit even as bitcoin remains somewhat bearish in the near-term.
Bitcoin Will Smash $1,000,000 After Two More Bubbles
A $1 million price prediction appears extremely ridiculous especially at this time that bitcoin is hovering under $9,000. However, Bobby Lee – who in addition to being a board member at Bitcoin Foundation is also the brother of Litecoin founder Charlie Lee – believes it’s possible for bitcoin to hit $1,000,000, terming the top coin as a “trillion-dollar asset”. At current prices, Lee believes bitcoin is worth only a tiny part of the value that it will realize in the next five to ten years.
According to Lee, bitcoin’s price moves in waves which are bubbles that push the price of bitcoin to new highs. He explained that with each new bubble, bitcoin’s price increases tenfold and in other instances, the price grows 20x. Lee expects new waves in the coming years that will drive the price to the six-figure region and eventually cross to $1 million per bitcoin.
It is this optimism about bitcoin’s future that has motivated Bobby Lee to head a startup company that creates hardware wallets for the safekeeping of cryptocurrencies.
During a recent interview at AIBC Malta, Bobby Lee spoke about his new company that creates physical non-electronic wallets known as Ballet for use by everyone. This wallet primarily supports bitcoin but it also offers support for other cryptocurrencies such as ethereum, XRP, Litecoin (LTC), Binance Coin (BNB), and dogecoin (DOGE).
Lee cited that part of the intention behind Ballet was to drive the widespread adoption of digital assets by making it safe and easier for people to invest as well as hold cryptocurrencies. To attract more people, the wallet comes in a form that bears some semblance to traditional credit cards. In addition to the high-level security that these wallets promise to provide, they also come with a distinct smell which is an anti-counterfeiting tool.
The bottom line: it is difficult to predict if Bobby Lee’s prognostication will ever come true, or any other mammoth price levels, but wherever the flagship cryptocurrency is going, it’s bound to be a thrilling journey and we are going to enjoy every step of the way.