John Danielsson argues that Bitcoin's continued growth will cause serious inequality in society and lead to a dystopian future. An economist at one of London's leading universities said that if Bitcoin and other cryptocurrencies continue to rise in price, inequality in society will increase. Director of the Center for Systemic Risk at the London School of Economics, Jon Danielsson, published a column for the VoxEU Center for Economic and Policy Research titled "What Happens If Bitcoin Succeeds?"
Billionaire and Miller Value Partners founder Bill Miller has once again come out in support of Bitcoin. He also talked about the reasons for buying bonds from MicroStrategy.
In a Q4 2020 report to Miller Value Partners, the founder of the firm said 0.75% of its assets were invested in convertible bonds of MicroStrategy. This company has invested over $ 1 billion in Bitcoin.
Guggenheim Partners' chief investment officer Scott Minerd confirmed his forecast for Bitcoin at $400,000, but warned of a possible correction in BTC.
Scott Minerd noted that the market situation is likely to develop similar to the situation after the Spanish flu in 1918. Then, after the end of the epidemic, the economy began to develop rapidly. Although the epidemic affected the market, it did not affect gold prices.
New US President Joe Biden may appoint former CFTC chairman Gary Gensler, who is well versed in the cryptocurrency industry, as SEC chairman.
Major American investor and fund manager Bill Miller spoke again about Bitcoin and said that as the price of BTC rises, the associated risks will decrease.
In an interview on CNBC, Bill Miller commented on the rise of Bitcoin and expressed his attitude towards the first cryptocurrency:
"One of the things that's interesting about Bitcoin is that it gets less risky the higher it goes," Miller told CNBC Friday. "That's the opposite of what happens with most stocks."
The Mayor of the American city of Miami, Francis Suarez, said that Bitcoin became one of the most stable investments in an unstable 2020.
According to Scott Minerd, investment director of Guggenheim Partners, fundamental analysis carried out by the firm's specialists speaks of the fair price of Bitcoin at $400,000.
Global Macro Investor CEO Raoul Pal has placed an order to sell all of his gold to invest in BTC and ETH.
American billionaire and former hedge fund manager Stanley Druckenmiller believes that investing in Bitcoin will be more profitable than investing in gold.
During his speech on CNBC, Druckenmiller noted the stabilization of the cryptocurrency market and the noticeably reduced volatility of the first cryptocurrency. Now, according to Druckenmiller, investing in Bitcoin is not that much different from investing in gold.
MicroStrategy CEO Michael Saylor said his company will not sell BTC for 100 years as Bitcoin is the best way to store value.
In mid-August, MicroStrategy announced the purchase of 21,454 BTC for $ 250 million, becoming the first US public company to invest a significant portion of its reserves in this digital asset. In an interview with Real Vision CEO Raoul Pal, Sailor said the decision to invest the large sum in Bitcoin was made in conjunction with the firm's board of directors, investors, auditor and executives. Sailor clarified that he does not view Bitcoin as a market speculation or hedging tool. The company deliberately acquired this cryptocurrency to gradually introduce Bitcoin into the financial system.