Krakens managing director, Dan Held has been working in the crypto space since 2013. In his last interview with Cointelegraph, dive into the first cryptocurrency meetings in the San Francisco Mission District, explaining how the price of a Bitcoin (BTC) could reach $ 1 million.
Watch the full interview for a journey into the past and a roadmap for the future of Bitcoin. Hero also explains why Bitcoin could become a “very boring” asset and why do you think it is time to stop experimenting with old coins?
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Bitcoin gets “very boring”
Bitcoin is famous for its volatility, but Held believes it won’t always be that way. He believes Bitcoin is digital gold. This thesis is accompanied by the expectation that the market capitalization of the asset will increase immensely.
“Bitcoin in its final phase in decades will be very boring. Just like our grandchildren will say, “Grandpa, grandma, I only hear about Bitcoin. Everyone has Bitcoin.” Who is interested? As if it were a boring investment. It’s like cash. “
Hero predicts that Bitcoin in its “final phase” will be worth $ 5 trillion to $ 100 trillion.. This would result in the conversion of a highly volatile asset into a currency. “very boring”.
“Blockchain technology sucks”
The belief in Held in Bitcoin it is unshakable. He has seen his fortune rise and fall three times by 80%. And yet 90% of your current net worth remains in Bitcoin. His unwillingness to diversify his portfolio is based on the firm belief that blockchain technology is only useful for Bitcoin.
Satoshi has deliberately developed blockchain technology to create Bitcoin. Blockchain technology is shit. It is terrible. So much compensation is paid to build Bitcoin that it is basically ineffective for almost everything else. “
Under that train of thought that he calls “Bitcoin minimalism” Despite Vitalik Buterin, he sees no reason for the existence of old coins. For hero, Altcoins are just experiments that have not yet shown that blockchain is useful for anything other than Bitcoin.
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