Bitcoin has undergone its latest ‘halving’ event, which occurs every four years and reduces the reward miners receive for mining new coins to help control inflation. It’s the third halving in the cryptocurrency’s 11-year history.
Keiser Report spoke to Dan Held of Kraken.com about the event, and what it means for this hardening to happen in an age of infinite fiat.
Bitcoin was purpose-built to be a new sound money, says Held, noting: “That message resonates really loudly with this sort of macro backdrop.” According to him, there will be a lot of investor appetite in the near future.
“I think it’s a perfect set-up for a big bull run… We’ve been around since it was a dollar or $10, and to see it at $10,000 is incredible, to see it survive this long,” he says, adding: “But I think the best is yet to come.”
Held explains that bitcoin’s return per unit of risk is “phenomenal.”
He says: “Bitcoin very much will be a contender for gold once it hits $100,000 to $400,000 per bitcoin. That’s not necessarily what I’m calling the top; that makes it just a contender, a new world-renowned or world-recognized store of value asset.”
So, we’re very much in the early stages of bitcoin’s adoption, Held adds.
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