Pioneer blockchain investor says BTC could $100,000 by end of the year, but there will be volatility.
Brock Pierce is an entrepreneur and venture capitalist with an extensive track record of founding, advising, and investing in disruptive businesses including many major blockchain and crypto projects.
Pierce is a pioneer in the market for digital currency and has raised more than $5 billion for companies he has founded.
Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin (first ICO). He is the founder of: IMI Exchange, the world’s leading digital currency marketplace for games; ZAM, one of the world’s largest media properties for gamers; and IGE, the pioneer of digital currency in online games. Pierce is co-founded GoCoin, Blade Payments, Five Delta (sold NASDAQ: SRAX), Xfire 2.0, Playsino, Evertune. He is an early investor in Bitcoin and one of the largest investors in the Ethereum crowd sale.
We interviewed Brock as part of a report on Bitcoin outlook for 2021 and would like to share his responses in total (with some editing for length) here. These responses are from January 15th, so do not refer to any subsequent actions in the crypto market.
Where do you see BTC going in 2021?
“Well, I think a lot of where Bitcoin heads depend on a number of other factors in the world. The economic situation, the political unrest, with the way that everything is lining up, I expect Bitcoin to go much higher — really as we started to see. After breaking all-time highs of 20,000, how quickly we moved up to 40,000, there really are not that many levels where I start to see Bitcoin seeing resistance. We could really get anywhere from 70,000 to 100,000 by the end of the year, but it will not be without volatility.”
“Altcoin Season” — has this happened but not as dramatically? Do you expect it to happen for ETH or anyone else?
“In terms of ‘Altcoin Season,’ for people who are looking at a lot of the Altcoins that really didn’t have a purpose, a lot of those have continued to be “left for dead.” Whereas, we have seen a lot of strength in some of the stronger ecosystems, with Ethereum leading the way, and Polkadot, Cardano… the whole DeFi wave, with Yearn.Finance, and Aave and a handful of other projects there.”
Are BTC HODLers getting carried away? Or is the hype justified?
“No, I don’t think Bitcoin HODLers are getting carried away, a lot of the reasons and merits for Bitcoin that people have been talking about for the last eleven years now, we have seen start playing out in the last year or two. It’s one of those things we can not control when people come around to it, or when exactly you need Bitcoin to protect you from inflation and a number of other things… but we have pretty high confidence that it is not about ‘if,’ just ‘when.’”