If you look past today’s valuation of Bitcoin, you can see that the future is bright. So many things are happening in the space that it is exciting to think about what will happen in the upcoming 2-5 years. This, at least to Jeremy Allaire.
During an interview with CNBC’s Squawk Box, Jeremy Allaire, the CEO of Circle, said that he is long on Bitcoin and other cryptocurrencies. According to Allaire, anyone who can look past today’s valuation sees that there is a lot happening. Despite the sharp drop in the price of Bitcoin this year, including the valuations of the other cryptocurrencies, there are still a lot of good reasons to be long on Bitcoin.
After being in the space for a long time, Allaire firmly believes that blockchain technologies will play an essential role in the way business will be conceived in the future. According to Allaire, the day when all valuable goods have a token running on the blockchain is near.
About Bitcoin Allaire said:
“The key thing with bitcoin is [that] it’s unique in its security and scale. And as an idea that we need a scarce [and] non-sovereign store of value that individuals can hold, and hold in a protected fashion, [Bitcoin] is attractive all around the world.”
According to Allaire, the fact that there is a growing number of users within the crypto space shows that cryptocurrencies like Bitcoin and Ethereum are oversold.
See the full interview with Jeremy Allaire here:
