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HomeDigit News'Bitcoin may reach where we can't imagine in the next 5-10 years'

‘Bitcoin may reach where we can’t imagine in the next 5-10 years’

The craze of the cryptocurrency market has also faded the luster of gold trading. Now investors are moving towards virtual currency. On the other hand, most investors who want to avoid taking risks are still in favor of focusing on gold. There is a heated discussion about whether gold has lost its importance for investment now?
Austrian investor and fund manager Ronald-Peter Stöferle said that things are not in his favor in the investment market regarding gold. This trend may increase further in the future. Stoeferle, managing partner of Incrementum AG, said about cryptocurrencies that if bitcoin lasts for the next 5 to 10 years, it could reach a level that we cannot even imagine right now. 

During a recent interview, Stoeferle was asked whether he thinks gold is now dead and whether cryptocurrencies like bitcoin have depreciated the precious metal? 
He added that global financial markets have reached a “monetary tipping point”. After this point inflation will rise, real interest rates will be negative or near zero, and monetary policy will be less effective for the markets than fiscal policy. According to him this will be the era of fiscal rule. 

Regarding bitcoin, the world’s largest cryptocurrency, he said that the next phase of its price increase is yet to begin. The price of bitcoin in India on April 2 was around Rs 34.3 lakh. 
He said, “I think that if bitcoin lasts five to ten years, its price will go to a level that we can’t even imagine right now.  

Bitcoin was recently launched as a legal tender by El Salvador earlier this month. Although this first step in the world was beset with initial problems, as citizens did not believe in it and their anger erupted over it, there were also technical glitches in its implementation and cryptocurrency prices also fell. Had gone

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