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In a recent interview with Mark Jeffery, mathematician Fred Krueger shared his view on Bitcoin, seeing it as a revolutionary force unlike the broader cryptocurrency market. He believes Bitcoin will not only survive but eventually replace the current financial system.
“There’s very little chance that Bitcoin doesn’t 10x from here. From an investment standpoint, I think Bitcoin is going to be the best opportunity. Of course, prices can go down, and you need nerves of steel to handle Bitcoin, but the potential for it to 10x is there, and it has no competition,” he said.
Bitcoin–A Smarter Choice?
According to Krueger, while many cryptocurrencies market themselves as eco-friendly alternatives to Bitcoin, their goals are different. Bitcoin aims to disrupt the traditional financial system by replacing banks and removing government control over money creation. Other cryptocurrencies focus on practical uses, such as facilitating transactions, settling stocks, and enabling smart contracts.
Krueger predicts that Bitcoin’s price will rise significantly, leading to increased regulatory scrutiny. However, he remains confident that Bitcoin will eventually replace both banks and the US dollar. He even envisions a future where Bitcoin becomes a mainstream currency for daily transactions on platforms like Amazon and foresees a time when people might use Bitcoin checkbooks to write checks in Bitcoin.
“Bitcoin, over the next 10 years, is really going to come into its own, and I think it’s going to change with respect to AI. Both of those things are going to be big, but I believe Bitcoin is going to be bigger. That’s a bit of an unconventional view because most people in Silicon Valley would argue that AI is going to be a hundred times bigger than Bitcoin in terms of its impact. But I actually think Bitcoin will be bigger,” he explained.
Bitcoin’s recent rise above $60,000 has stirred in the market. This milestone, hit on September 12, 2024, represents an 11.5% gain within a week. However, the price has again dipped and is trading close to the important $58,500 levels.