Where I See Bitcoin Going From Here

I joined “Squawk on the Street” to discuss the cryptocurrency’s move and why it’s become a popular investment. Below are some of the areas I covered in the interview including what I believe will drive further adoption of Bitcoin.

Why Bitcoin Has Been Going Higher

Bitcoin has grown over 400% in the last 12 months with a market cap of approximately $600B. Additionally, Bitcoin ‘whales,’ addresses with more than 100 Bitcoin, accumulated an additional 47,500 Bitcoin in December alone, according to crypto exchange Kraken.

The reality is that the USD loses at least 2% in value each year with the current inflation rate. Institutions and corporate buyers are adopting Bitcoin as a potential global store of value and inflation hedge.

A great example of this is MicroStrategy announcing over $1B in total Bitcoin purchases in 2020.

Where I See Bitcoin Going From Here

• We’ll see more skepticism turn into curiosity.
• The asset won’t just be limited to early adopters with the highest conviction.
• Wall Street and tech will be enticed by Bitcoin’s liquidity and price discovery.
• Bitcoin’s monetary network will inform many industries, enterprises, and group segments in one way or another.