At Monday's Sohn Investment conference, John Pfeffer, a partner at Pffefer Capital, said Bitcoin is a viable gold replacement and expects the cryptomonade to exceed $ 90,000.
John Pfeffer is a well-known investor and a crypto-enthusiast, including the author of a book called "An Institutional Approach to Investing in Cryptomones." In his opinion, Bitcoin has the advantage of being decentralized, censored, and much easier to store and trade than gold.
According to his approach, if 25% of banks' gold reserves were replaced by bitcoin, the market volume would increase by $ 6.4 trillion.
Although Pfeffer's statements seem very courageous, he is not the only investor who has this opinion - at the end of last year, Winklevoss twins, famous in the investment circles, made similar claims:
"Bitcoin equals and even exceeds gold in all respects. If we evaluate money properties, Bitcoin is better. Why is valuable gold? Because it is available in small quantities. Bitcoin has the advantage of being available in fixed amount, more portable, more durable and fungible. No matter what you look at, it's better than gold. "
An important element to be highlighted in Pfeffer and Winklevoss's statements is that it refers strictly to bitcoin, not to the other cryptomonas. For example, Pfeffer said at the conference Monday that "most other digital coins are losing bets."
Unlike them, David Drake, an investor and market analyst at LDJ Capital, believes that although Bitcoin has the potential to be the most critical cryptocurrency, there are several hundred that have very good development potential.
In his opinion, 2018 will be a year in which crypto markets will benefit from a significant price increase, especially given their popularity in Asia and the US. The attention paid by regulators is seen as a positive thing, as it generates an increase in interest from Wall Street actors who need insurance from the authorities.
