Billionaire Brock Pierce is saying that external factors will largely dictate the movement of Bitcoin (BTC) in 2022.
In a new interview on Fox Business, the Bitcoin Foundation chairman shares what he thinks could influence the price of the flagship cryptocurrency in the coming year.
“I think more on external tractors than it does even the Bitcoin market Itself.
I mean, we’re printing today a massive amount of currencies in the world; what are we going to see in terms of actual inflation?
These are the sorts of things.”
He says that the volatile nature of Bitcoin offers potential big returns for investors and serves as an important catalyst for driving up the price of the digital asset.
“Remember this is an alternative asset and It’s really one that isn’t a hedge per se as gold or real estate maybe or more so because it has more risk and greater volatility, but also a much more interesting return profile.
Depending upon financial uncertainty in the broader global financial system, that will be the primary driver.”
As to how much he expects Bitcoin to surge in 2022, Pierce says that it is highly probable that BTC could breach the six-digit level and even hit $200,000, or over 400% of the top crypto’s current price of $47,234.68.
“I would not be surprised if we saw a Bitcoin price next year over $100,000.
It’s even conceivable that it can break $200,000 for a moment and probably fall back again.”
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