Llew Claasen, the executive director of the Bitcoin Foundation, predicted its namesake cryptocurrency will hit $40,000 a coin by the end of the year, but only after more sideways trading.
Claasen also predicted that 90% of all other cryptocurrency projects will fail.
But that failure is OK, he says, because it indicates that people are experimenting and taking risks with cryptocurrencies.
REDWOOD CITY, CALIFORNIA — If you’re a bitcoin believer, the head of a key advocacy group for the cryptocurrency had some words on Wednesday to either strengthen or weaken your faith, depending on which part of his remarks you focused on.
On the optimistic side, Llew Claasen, the executive director of the Bitcoin Foundation, predicted its namesake cryptocurrency will hit $40,000 a coin by the end of the year (it’s currently trading above $9,000). On the other hand, Claasen predicted that 90% of all cryptocurrency projects overall will fail.
But even that isn’t all that bad, he said.
That kind of failure rate “is not unusual to cyptocurrency,” Claasen said in an appearance at the Startup Grind conference. He added that it’s an indication that the projects are trying “something new and exciting and super-risky.”
Of course, to some degree, the failure rate might also be …read more
Source:: Businessinsider – Finance