The cryptocurrency space continues to draw opinions as to what it is worth, as well as its sustainability.
A couple of key players recently weighed in and their optimism are worth noting.
Robinhood’s CEO recently said that Bitcoin was here to stay. Also, billionaire venture capitalist Tim Draper sees the price of Bitcoin somehow surging from its current $6,000 levels to $250,000 by 2022.
Here, we’ll go over these players’ thoughts about the crypto space.
To $250,000 and beyond?
Billionaire VC Tim Draper is very confident about how much room Bitcoin has to run. He recently said that it could go as high as $250,000. He recently told financial news outlet The Street his thoughts about why Bitcoin could soar that high by 2022.
He said it’s all due to the security features of cryptos.
“Security is one of the best features of cryptocurrencies. The Bitcoin blockchain hasn't been hacked, but banks are constantly being hacked. They are playing whack-a-mole trying to keep hackers away. Bitcoin is like the hero that came at the perfect time to save us as banks have begun to lose their safe hold on people's money.”
Although the U.S. Securities and Exchange Commission squarely came out last week and said Bitcoin and Ethereum were securities, Draper begs to differ.
When The Street asked him to give his definition of the cryptos, this is what he said:
“They are very much currencies. They are recognized tender throughout the world. If you are a knee surgeon, everyone looks like they have a knee problem you need to solve. If you are a securities regulator, everything looks like a security to you. Unless the tokens are tethered, they are not securities in my view.”
Not going anywhere
Robinhood has in place a commission-free trading platform that is very much so in demand. It’s rolling out its offering almost on a state-by-state basis. That’s much to the delight of people who can’t wait to trade cryptos without having to pay for it - sort of.
This seems to be one of the reasons Robinhood’s co-CEO Baiju Bhatt thought it important to stress that Bitcoin’s staying power was strong during a recent interview he had with Yahoo (NASDAQ:AABA) Finance. To them he said he believes that the cryptocurrency market has a strong future ahead of itself.
“We have been thinking about it for a couple of years… We had been watching it (Bitcoin) over the years and we noticed one thing which we really looked at when considering when to offer it to our consumers, which is its resiliency. It has this tenacity to it where it just keeps on coming back.”
Bhatt has not been shy about his beliefs that his Robinhood could give Coinbase a run for its money. During the Yahoo Finance interview, he said:
“We (Robinhood) think that we are good at building the best consumer products and making sure that we can offer them at the best prices. And while you may end up paying a fee of 4% perhaps more on Coinbase, on Robinhood it is free and we think our interface is easy to use as well.”
Coming on board
We’ve reported to you about how Robinhood continues to make its presence known in the U.S. Most recently, it added Colorado to the slate of states where it offers its commission-free trading platform. Other states include California, Massachusetts, Missouri, Montana, and New Hampshire.
It’s boasted having grown the number of its users to four million. It’s also boasted having a transaction volume on its brokerage platform of more than $100 billion. That’s led to it saving users more than $1 billion in equity trade commissions.
We’ll continue to bring you the thoughts and opinions of our industry’s observers, so stay tuned!
This article appeared first on Cryptovest
