Of course, none of us have a crystal ball that can tell us how much any asset will be worth in the future. but when it comes to bitcoin (btc -2.21%), it can be especially difficult to predict. In this video clip from Tono Live, recorded May 24, Tono.com contributor Matt Frankel, CFP, and Industry Focus presenter Jason Moser discuss where the leading cryptocurrency could be within of a decade.
jason moser: let’s fast forward 10 years. Will we arrive in 10 years when bitcoin can be seen by most as a store of fair value? I would assume that, as things are going, we will probably continue to grow, at least, the people who see the merits of cryptocurrencies in any form. There’s going to be, I think, continued adoption, albeit probably somewhat slow for the masses, but at some point or another, maybe we’ll get there. doesn’t mean we’d never get there.
Reading: What could bitcoin be worth in 10 years
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matt frankel: there you have it, trying to provoke me again. I think it is a mistake for anyone to think that it is a given that we will eventually get to the mass adoption of cryptocurrencies. that’s still very much up in the air at the moment. during some of our bitcoin data reviews, one of our experts that i interviewed, i’m not sure which one came to mind, but one of them referred to what’s happening right now as a tipping point, where we’re at whether the mass adoption of bitcoin accelerates or not. it’s not going to continue at the current rate where you’re going to have 10% to 20% adoption, that subset of the population just believes in bitcoin forever. are you going to see it really start to gain traction or are you going to go the other way. I really think it’s a very binary result. I personally don’t think I’m going to get there. I am very skeptical about the long term use case of bitcoin. when you find out that all these projects are being done on blockchain and things like that, like mastercard and visa, and all these other fintechs have their own blockchain divisions, which are the development of blockchain financial programs and things like that, generally that is on the ethereum blockchain (eth -2.65%). I could see that it has more staying power than bitcoin, but I really don’t think you’ll see bitcoin become a major currency. i just dont like the concept i like the technology i mined bitcoin i used bitcoin i lived off bitcoin for a day in las vegas just to see if i can do it so as I said, I say this with peace and love. I just don’t see it getting there.
moser: yes. I tend to agree with you. but in the same way, as an investor, one of the things that I just learned is that you should always keep an open mind. I’m going to keep an open mind about it. Doesn’t mean I’m interested. I don’t care I still don’t see the use case for it. i agree with what you say i also wouldn’t be at all surprised if 10 years from now, maybe we saw some change in mindset or some material use cases for it and other cryptos. It’s going to be an interesting story to follow, no doubt about that.
frankel: sure. If you and I are wrong and it gains mass adoption, in 10 years bitcoin could be $1 million.
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moser: yes, finite supply. absolutely could be.
Frankel: My prediction is that in 10 years, bitcoin will be above $500,000 or below $1,000. nowhere in between. I am either going to be very good or very bad. Say what you will, for the last 10 years of bitcoin’s existence, it hasn’t done much of just wasting time. has gone up or down or straight up or down. so if the last 10 years goes by, bitcoin is worth $1 million in 10 years, but the interest can really evaporate quickly if it doesn’t work out. so I think it’s going to be very high or very low.
moser: yes. I think interest is going to be key. if something like 20% of the population right now has dabbled in the crypto space, obviously we’re going to need a lot more than that to create the ongoing interest. otherwise, you’re right. you will have a hard time.
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