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A popular crypto analyst known for calling the Bitcoin May 2021 collapse thinks BTC is en route to 40x gains over the long term.
The pseudonymous analyst known as Dave the Wave tells his 127,500 Twitter followers that if Bitcoin matches gold’s market cap in the future, that will equal a surge of about 40x.
“How about a Bitcoin 40x? Beats a 10x buy. Over a 20 year period, works out to 17% compounded.”
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What is the Facebook Metaverse?
A metaverse is a digital environment in which people can meet and collaborate. It is different from a standard VR experience, where players are isolated. In the metaverse, gamers can meet real-life friends and form relationships. They can also play games and earn money by participating in profitable activities. These activities include selling items to other users in exchange for cryptocurrency. Some of the games in the metaverse will be compatible with VR headsets.
The metaverse is populated with avatars and non-fungible tokens. Cryptography is a major part of the metaverse, and these tokens can be traded for real world value or converted to other currencies. However, it is not always a good idea to invest in metaverse cryptocurrency. While this market is relatively new, it is volatile and illiquid. Also, there are limited users, so a single sneeze can cause the prices to plummet.
Facebook’s chief executive, Mark Zuckerberg, introduced the term “metaverse” during a recent conference call, and described the concept as the “next big thing” in technology. He also referred to Facebook as a “metaverse company.” While the concept isn’t new, it has evolved with virtual reality, augmented reality, and cryptocurrency. The concept became a wildly popular movie, “Ready Player One”, which was released in 2018. In 2014, Facebook acquired the virtual reality platform Oculus and hardware company Metaverse.
The new Facebook metaverse will support non-fungible tokens, which have thrived on the Ethereum protocol. This will make it easier to sell limited edition digital objects, like virtual reality headsets. Facebook has also recently signaled a big hiring push for the new metaverse unit.