Bitcoin's price could rise to five-digit territory next year and even briefly touch $ 200.000 due to the global economic situation, said Block.One co-founder and former US presidential candidate - Brock. Pierce.
He also believes the regulations could help the cryptocurrency space, but only if they are incorporated after thorough research.
BTC to 200 thousand dollars in 2022?
Pierce is among the most popular individuals in the cryptocurrency space, with links to several projects such as Block.One and Tether. He also tried his luck in the 2020 US presidential election unsuccessfully and said earlier this year that bitcoin will peak at $ 100.000 by the end of it.
With less than 48 hours to the end of 2021 and BTC trading well below $ 50.000, it's safe to assume that this prediction won't come true. However, Pierce continues to be bullish on the primary cryptocurrency and its USD price movements.
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In a recent interview with Fox Business, he outlined the current economic situation, where governments print excessive amounts of fiat currency and inflation rises dramatically, as the main reason why BTC could skyrocket next year.
“I wouldn't be surprised if we saw a bitcoin price above $ 100.000. It is also conceivable that it could break $ 200.000 for a moment ”.
He admitted that bitcoin is not a hedge against lost traditional financial assets as it is more volatile and unregulated. However, it attracts investors due to the possibilities for higher returns than gold and real estate.
Regulation is a good thing
Pierce has also touched on another hot topic in the crypto space in recent years - regulations. More specifically, she addressed Senator Elizabeth Warren's comments on the industry, but she believes she and her team need to do more research before heading down that path.
“I encourage you to continue to be informed. I'm glad she took the time to learn. I'm glad she took the time to form an opinion, but make sure you have the right information before you do so. "
However, he agreed with Warren that most of BTC's wealth is distributed to a handful of people who went early and noted that this needs to change in order to decentralize the asset further.
