Bitcoin Price Could Briefly Hit $ 200,000 In 2022, Crypto Tycoon Brock Pierce Says
Brock Pierce, one of the wealthiest people within the cryptocurrency industry, said that he would not be surprised if the Bitcoin price hit $100,000 next year in a recent interview with Fox Business. He adds that it’s “conceivable” for him that the flagship coin could even break above $200,000:
He predicts that the highest cryptocurrency could briefly reach the aforementioned price before falling back lower:
It’s even conceivable that it could break $200,000 for a moment and come falling back again.
Bitcoin’s price performance in 2022 depends on ‘external factors’, indicating the massive money printing that is occurring around the world.
Global uncertainly within the financial system will be the key catalyst for Bitcoin growth, according to billionaire.
Still, Pierce doesn’t see it as a gold-like hedge against inflation because it comes with more risk and volatility.
He believes that Bitcoin fulfills the role of a store of value, while altcoins help the industry to move forward. With that being said, he believes that many projects won’t survive, comparing the current state of the market to that of the internet in the 90s.
Elizabeth Warren is right
Speaking about Elizabeth Warren’s most recent criticism of Bitcoin, Pierce said he was glad the Massachusetts senator took the time to learn about Bitcoin. However, he encourages one of the leaders of the progressive wing of the Democratic Party to seek up-to-date information before forming an opinion.
He claims that Bitcoin is helping to increase financial inclusion in places like El Salvador, but he does acknowledge that a significant portion of wealth is concentered in the hands of wealthy early adopters.
In a tweet on Tuesday, Warren argued that Bitcoin was even more unequal than the dollar.
