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Just for fun, since no one actually has any clue, what are some of the smart people saying the longterm future of cryptocurrency will be. Long after the fluctuations from Twitter comments are a thing of the past. I will start this off with one of may favorite quotes:
Don't let the fear of the time it will take to accomplish something stand in the way of your doing it. The time will pass anyway; we might just as well put that passing time to the best possible use. Earl Nightingale
Ivory Johnson, certified financial planner and founder of Delancey Wealth Management
Cryptocurrencies will disrupt traditional finance because one of their most attractive utilities is the ability to efficiently transfer payment across borders with little to no cost, delay or foreign currency fluctuations. With respect to bitcoin, 50 years is a long time and bitcoin could either become the world reserve currency or the next AOL that made a lot of people wealthy until it was unseated by better technology.
Frederick Kaufman, author of “The Money Plot: A History of Currency’s Power to Enchant, Control, and Manipulate”
Way before 2071, the dollar will have more in common with a crypto than with silver or gold, so there is no need to doubt the longevity of encrypted algorithms as stores of value and media of exchange. All money is a form of encryption. It’s been that way from the start, and as our lives converge ever more closely with the digital universe, the drive to invest in tokens will only accelerate. Ironically, that impulse will connect us to primitive instincts, and do its part to keep us human.
Dan Egan, vice president of behavioral finance and investing at Betterment
Cryptocurrencies like bitcoin have proven themselves useful for money movement and speculation, and they’re unlikely to go away. But where and how we’ll generate the energy to meet the demand of a growing crypto market is worth considering, as well as whether state-actors who view it as a competitor to fiat power will make it even more of a black-market commodity.
Dragan Boscovic, founder and director of the Blockchain Research Lab at Arizona State University
Central bank authorities are busy developing regulations on cryptocurrency. They recognize that digital currencies are native to the digital economy and, as such, are on their way to becoming mainstream in the next 10 years.
Investopedia
The future outlook for bitcoin is the subject of much debate. While the financial media is proliferated by so-called crypto-evangelists, Harvard University Professor of Economics and Public Policy Kenneth Rogoff suggests that the “overwhelming sentiment” among crypto advocates is that the total “market capitalisation of cryptocurrencies could explode over the next five years, rising to $5-10 [trillion].”
Charlie Lee, Managing Director Litecoin Foundation - Prediction: If Bitcoin is Gold, Litecoin is Silver
Charlie Lee is the Managing Director of Litecoin Foundation and the founder of Litecoin, the sixth largest cryptocurrency in the world that works on a proof-of-stake mechanism. Lee was a former employee at Alphabet Inc. (NASDAQ: GOOG) before he founded Litecoin. Litecoin is also a Bitcoin spinoff that offers lower fees and faster transaction times than the parent coin.
Lee gained exposure to crypto as a former engineer at Alphabet Inc. (NASDAQ: GOOG), one of the largest institutional investors in digital currencies. In an interview with American news publication CNBC in late April, Lee explained that Litecoin was like silver to the gold that was Bitcoin, noting that Litecoin used a different mining algorithm to the parent coin.
This difference could be important for companies like Alphabet Inc. (NASDAQ: GOOG) that want lower fees and faster networks, as well as environment-friendly options in the crypto industry. Lee told CNBC during his appearance that Litecoin was four times faster than Bitcoin and had more tokens, making it easier to use.
Sarah Bergstrand, COO BitBull Capital - Prediction: Ethereum Will Rocket to $100,000 by 2025
Sarah Bergstrand is the COO of BitBull Capital that has a bullish view on Ethereum, the second most popular cryptocurrency in the world that many believe will take over the number one spot from Bitcoin in the coming years. Big companies like Shopify Inc. (NYSE: SHOP), the Canadian ecommerce platform, already accept Ethereum as payment for sales.
The trust that Shopify Inc. (NYSE: SHOP) has shown in Ethereum looks set to pay off as finance experts like Bergstrand believe that new developments within the Ethereum network, which is in the process of transferring itself to a more leaner platform that is less energy intensive, will lead to a staggering increase in the price of the coin.
In an interview with business news publication Forbes in May, Bergstrand predicted that Ethereum will rocket to a staggering $100,000 by 2025. Shopify Inc. (NYSE: SHOP) CEO Tobi Lutke is similarly bullish on Ethereum, taking to social networking platform Twitter in April this year to ask for ideas related to investments similar to Ethereum that his company could explore.
Cathie Wood, CEO ARK Investment- Prediction: Bitcoin Will Reach $500,000
Earlier this year, Bitcoin value fell sharply after reaching a high of around $64,000 in April after Tesla, Inc. (NASDAQ: TSLA) suspended Bitcoin payments for sales and Musk voiced his disapproval of the energy intensive mining methods used by Bitcoin, sending stocks of many crypto firms, including those in which ARK has ownership, sliding to new lows.
Wood, whose hedge fund has a big stake in Tesla, Inc. (NASDAQ: TSLA), disagrees with Musk on the issue, and appeared on business news station Bloomberg TV in May to claim that Bitcoin would rise to $500,000 despite recent setbacks. Wood made the claim on the back of reports that the adoption of solar energy in coin mining was accelerating dramatically.
Seventy Four, Seventy Five- Amateur Blogger
I can't even tell you what pants I am wearing tomorrow, you better ask someone else.
(This article was updated and expanded from an earlier post.)
