With less than 48 hours left until 2021 finishes and BTC trading well below $50,000, it’s safe to assume that this prediction will not come true. However, Pierce continues to be bullish on the primary cryptocurrency and its USD price movements.with Fox Business, he outlined the current economic situation, in which governments print excessive amounts of fiat currency and the inflation increases dramatically, as the main reason why BTC could skyrocket next year.
He admitted that bitcoin is not a hedge against traditional financial assets perse as it’s more volatile and unregulated. Still, it attracts investors due to the possibilities of higher returns compared to gold and real estate.Pierce also touched upon another hot topic in the crypto space in the past few years – regulations. More specifically, he addressed Senator Elizabeth Warren’son the industry but believes that she and her team need to do more research before heading down that road.
“I encourage her to continue to be informed. I’m glad that she has taken the time to learn. I’m glad that she has taken the time to form an opinion, but make sure you’ve got the right information before doing that.” However, he agreed with Warren that the majority of the BTC wealth is distributed to a handful of people that went in early and noted that this has to change to further decentralize the asset.
Source: Digital Coin News (digitalcoinnews.net)
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