PayPal Director: Bitcoin has at least 50% chance of success, and if successful, it will reach $1 million

While in many ways Bitcoin (BTC) and other cryptocurrencies may become PayPal's significant competitors, a member of PayPal's board of directors recently proposed a reason why he saw the future direction of cryptocurrencies, in particular, he believes Bitcoin is very It is likely to be successful and widely adopted in the next 10 years.

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One of the largest cryptocurrency hosting solutions, Xapo's CEO and PayPal board member Wences Casares, described in a recent blog post this optimistic view of Bitcoin, pointing out that the value of Bitcoin may soar in the future by 250. Times.

Casares: Bitcoin (BTC) has at least 50% chance of success

Casares has been blunt in the past to support the bitcoin and encryption markets. He recently shared his thoughts on the future direction of this emerging technology in his blog and gave a strong reason why most portfolios should Up to 1% of assets are allocated to Bitcoin.

In this article, he points out several reasons why this digital asset has at least a 50% chance of success, including more and more adoptions, new influxes of new investors, and a large volume of transactions since its inception. increase.

“After 10 years of uninterrupted good operation, with more than 60 million holders, more than 1 million holders per month, and more than 1 billion US dollars per day on a global scale, Bitcoin has great chances of success. I (subjectively) seem to have at least 50% chance of success," he explained.

Despite this, Casares explained that despite the strong fundamentals of Bitcoin, he does believe that bitcoin is at least 20% less likely to fail.

"Bitcoin is a fascinating experiment, but it's still just an experiment. So, it still has the possibility of failure and becoming worthless. In my (subjective) view, bitcoin is at least 20% less likely to fail, "He says.

If Bitcoin succeeds, its value may soar to $1 million

However, he still maintains a clear assessment, Bitcoin is still in the experimental stage, so there are still significant venture capital investments. He also pointed out that if this cryptocurrency successfully realizes its full potential, its value may soar, so that the price of each BTC will exceed $1 million in the next 10 years.

"In my (subjective) view, Bitcoin has at least 50% chance of success. If Bitcoin really succeeds, then within 7 to 10 years, the value of a BTC may exceed $1 million."

Considering this analysis, as well as the widespread use of Bitcoin and the huge potential for soaring value, Bitcoin investors who have been riddled by the bear market may get some comfort, because Bitcoin is likely to one day surpass its historical high again. point.