The CEO of Strike, Jack Mallers, who oversees the Lightning Network wallet for Bitcoin, has made a bold prediction about the future price of the flagship cryptocurrency. In an interview with David Lin on YouTube, Mallers suggests that efforts to rescue the struggling bond market could lead to a looser monetary policy, ultimately causing Bitcoin’s value to surge by anywhere between 297% and 1,486% from its current level.
Mallers highlights the current troubles facing the bond market, which he believes are unprecedented in modern financial history. Bondholders are facing significant losses, and this has a direct impact on banks, as they are the major owners of these bonds. Consequently, the liquidity required to stabilize the bond market could push asset prices to new heights.
In light of this, Mallers believes it is impossible to predict the potential value of an asset as scarce as Bitcoin. However, he envisions a range of $250,000 to one million as a possibility, based on the liquidity that will be needed to restore the market’s solvency.
For Mallers, the price of Bitcoin is the most accurate indicator of its adoption as a form of currency. He sees the price as a reliable measurement of how widely Bitcoin is being used as a means of exchange. He anticipates that more people around the world will turn to Bitcoin for various use cases and value propositions, as it offers solutions to numerous problems. As a result, he expects the adoption of Bitcoin as a monetary unit to increase significantly, leading to a sharp rise in its value against the US dollar and other fiat currencies.
At the time of writing, Bitcoin is trading at $63,035. Mallers’ predictions, if accurate, could result in a substantial appreciation in the cryptocurrency’s value.
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