American hedge-fund manager James Altusher is considered one of the best specialists in crypto-currencies. During his 49 years he managed to create 20 companies, 17 of which failed. But this did not stop him from learning a lot and writing several books about finance and corporate culture. And more recently, he told what he thought would be with the crypto-currencies and what bitcoin rate would be in a few years.
James Altusher believes that soon crypto currency will replace paper money. He explains this by saying that each new currency has a number of advantages over the past. And electronic money has several important advantages: for example, bitcoin is completely anonymous and cannot be used twice. In addition, the expert predicts that the rate of bitcoin will soon rise to $ 1 million. In addition, it will remain the most stable in the market of crypto-currency, while 98% of the rest simply fail.
Also, James Altusher shared his forecast for the future of the crypto-currency market:
- The entrepreneur believes that very soon the economy of one of the countries will simply collapse and therefore they will have to switch to bitcoins. Most interestingly, a few days after that, the Venezuelan government announced the creation of its own currency, which was named Petroquoine.
- Large banks will soon begin to take bitcoins and launch their own crypto-currency wallets. Some time after this forecast, one of the largest banks of South Korea Shinhan Bank opened a platform for storing bitcoins.
- While bitcoin is waiting for incredible growth, more than 95% of the remaining crypto currency will depreciate. But those that remain will grow very much in price. And it will happen in six months.
- US authorities will secretly buy crypto-currencies and use them for the black market. James Altusher believes that this is already happening, but the real peak will be in 2018.
- Most likely, China will launch its own crypto currency (CryptoYuan) and will invest in it a lot. And this is very good for the legitimacy of crypto currency in general.
- Volatility of Crypto-currency will remain a problem, but a number of companies will try to change this situation. The investor pins his hopes on Basecoin, which should be tied to traditional money.
- Many freelancers will begin to receive royalties in the crypto currency. Because of this, the government can raise sales taxes.
- Crypto-currencies, most likely, will deprive the country of a monopoly on the issue of money.
- New government departments will be set up to deal with the regulation of crypto-currencies and the preparation of new bills. Because of this, the popularity of crypto currency will only grow.
- A huge number of new crypto-currencies will be created, but only a few will survive in this competition.