Strike CEO Predicts Bitcoin Could Hit Seven Figures
Jack Mallers, CEO of Strike, a Lightning Network wallet for Bitcoin, suggests that Bitcoin's price could potentially reach seven figures in the current market cycle.
Speaking on the David Lin YouTube channel, Mallers predicts that efforts to rescue the bond market might lead to a more relaxed monetary policy, causing Bitcoin to surge by 297% to 1,486% from its current level.
Mallers highlights the challenges facing the bond market, with bondholders experiencing significant losses.
He explains that since banks often own bonds, these losses could affect bank deposits, prompting central banks and governments to inject liquidity into the market, potentially driving asset prices higher.
In Mallers’ estimation, this liquidity influx could propel Bitcoin’s price to anywhere between $250,000 and $1 million, considering the scarcity of the asset and the liquidity required to stabilize the market.
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He emphasizes that Bitcoin’s price serves as a crucial indicator of its adoption, indicating the extent to which the world embraces Bitcoin as a form of money.
Mallers anticipates further adoption of Bitcoin due to its versatility in addressing various problems, which could lead to significant price increases against fiat currencies.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
