Top 6 Crypto Experts Discuss The Future Of Cryptocurrency Investment
In 2021, Bitcoin prices reached an all-time high, followed by a steep collapse, the introduction of government restrictions, and investment from large corporations. As a consequence of investors such as Elon Musk, Bitcoin and other cryptocurrencies have become popular in popular culture. Despite the impossibility of predicting the price of Bitcoin, other crypto experts will spend the next several months concentrating on problems such as regulation and accepting cryptocurrency payments by institutions to acquire a better picture of the industry’s path.
This article reviews crypto experts – Jeff Booth, Robert Breedlove, Anthony Pompliano, Jeff Wang, Tom Wheelwright, and Raoul Pal.
JeffBooth’s perspective about the future of money was as follows: “We have technology that is reducing costs, but we also have a system that is seeking to increase prices.” As a result, he searched for a solution to any problem, such as whether the current system could adapt itself to provide abundance for humanity or if it would collapse by war, revolution, or other means, as it had in the past. Even though he had only begun examining bitcoin, he had already invested in it because of the system’s immense inertia. He believed that this would be the most efficient method to move society from one system to another and that the new system would be a significant improvement for a civilization that would benefit everyone.
We are told we need inflation. This is not true. It only seems true because the rules of the game were designed that way.
— Jeff Booth (@JeffBooth) June 10, 2020
Anthony says, “People see a high degree of volatility, which causes them concern. Nevertheless, one of the advantages of bitcoin as a decentralized digital open system is that you can see exactly who is buying and selling on the blockchain. This is one of the many unique features of Bitcoin. Because it is an open and public ledger, when you examine the on-chain metrics or the blockchain, you can see that brand-new investors and market participants caused the whole dip from 60 to 30. This may be determined by how long they’ve held onto the bitcoin they sold.”
Robert another crypto expert describes the future of the currency: “In the next decade, he anticipates that the U.S. money supply will expand from its current level of around 20 trillion dollars to approximately 500 trillion dollars. He forecasts that global m2 will increase from its current level of about 100 trillion to about 1250 trillion, or 1.25 quadrillion.” In this instance, however, many weaker foreign currencies will have collapsed against the dollar, resulting in an overall rise in the dollar’s purchasing power. He estimates that bitcoin will have gone through another one of these price cycles, which may have broken, and will have begun a long, gradual ascent as people realize it’s a game of accumulation. He estimates that bitcoin will have acquired almost 20% of global purchasing power by 2031, indicating a market size of over $250 trillion.
Tom explains, “Every time you use or exchange your virtual money, it is a taxable event.” Thus, if bitcoin became a standard method of exchange and you could purchase groceries with it, the transaction would be taxed since it would be regarded as a bitcoin-to-U.S. exchange rate. You must now check a box on your tax return asking, “Did you trade bitcoin?” This indicates that you did more than simply purchase the item. If you have only bought the item, you are not obliged to tick this box, but you must do so for each further usage. You are required to check this box; failure to do so will result in criminal prosecution but no civil repercussions. Most items on a tax return are civil fines, which are entirely OK to pay. This is a crime. They will pursue you if it is not labelled, and you should have tagged it first. This is a crime, yet the punishment is a slap on the wrist, and I’m free to go. ”
According to crypto expert JeffWang, this is how the future of money will look: “Cash is the most fundamental parallel to a financial service that can be found there; it is, after all, a currency that can be exchanged for 2020 right now.”The principal tasks of the decentralized financial system are lending and borrowing. Consequently, the financial services industry is undergoing significant change. This ecosystem comprises numerous distinct economic ideas that are generated and represented on the blockchain. Therefore, they are all decentralized blockchain-based financial services that you may use if you have a wallet. My study indicates that blockchain technology is more secure, transparent, and resistant to manipulation than traditional systems.
Raoul Paul states, “As the number of users grows, volatility decreases, and bitcoin becomes a more usable form of currency.” Currently, bitcoin is essentially a store of value plus a call option on the future of financial technology, which is why it’s so volatile; eventually, its trajectory will flatten, and it will resemble gold more closely.