Crypto influencer Adam Back, inventor of Hashcoin (which is used in Bitcoin mining) and CEO of Blockstream, shared his thoughts on Bitcoin recently.
Responding to a Tweet claiming that Bitcoin would still hit six figures during the next market cycle, Back said that he believes Bitcoin could actually hit $100,000 this year as the DeFi sector crumbles.
Despite the cryptocurrency market being down significantly from previous highs, Adam Back remains bullish. In the midst of widespread fear and 40-year record inflation levels, Adam Back reiterated a statement from last year in which he claimed Bitcoin ($BTC) would hit $100,000 by year-end. Of course, we now know Back missed his mark on the previous forecast but BTC did briefly surge to almost $70,000 during November.
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Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/3I1EQw6
✔ 3AC Ordered to be Liquidated: https://bit.ly/3udw0Wt
✔ Roger Ver Denies Owing CoinFLEX $47M: https://bit.ly/3AcGyZD
✔ Mark Cuban Reveals Why He Owns BTC: https://bit.ly/3OM8IPe
✔ $100K Bitcoin Prediction: https://bit.ly/3bAZOFU
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.
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Mark Zuckerberg and the Metaverse
The term Metaverse is a derivative of the words stem and meta, which both mean “beyond” and “universe,” respectively. It refers to an imagined virtual world in which people can buy land and avatars, attend events, and even buy goods using cryptocurrency. Metaverse would connect people across the globe without the need for physical distances. For instance, it is envisioned that sports enthusiasts could exchange digital assets for real-world goods.
While the potential for the Metaverse is still in its early stages, many prominent figures in the crypto industry have expressed an interest in this new digital world. Earlier this week, Facebook announced that it would invest $10 billion into Metaverse in 2019. Mark Zuckerberg is not the only tech guru to share his thoughts. Former hedge fund manager and crypto enthusiast Raoul Pal has expressed similar thoughts. He said: “We believe that the Metaverse is the future of the mobile Internet.”
Entrepreneurs will be the driving force of the metaverse. They will create content, provide services, and otherwise do useful things for the metaworld. It will be up to these entrepreneurs to find ways to monetize these services to attract and retain users. One example would be the creation of non-fungible tokens that allow users to own hour sessions, allowing online cinemas to create a virtual cinema experience. Tokens may also be used as passes to other worlds or events.