$1.2 Billion Dollars’ Bet if Bitcoin Reaches $280k By 2023

· 13 Jul 2018 in Crypto News, Home
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Tom Waterhouse, CEO of William Hill Australia, said that an important crypto expert has requested a bet of $8.5 million AUD to win $1.2 billion dollars. The bet is related to the price of the famous cryptocurrency. If it reaches $280,000 dollars by 2023, then the expert will have some billions on his favour.

Crypto Expert Sure About Bitcoin’s Future

Tom Waterhouse wrote a tweet in which he says:

“Big Bet: Well known Crypto expert has just requested a bet of $8.5m AUD to win $1.2bn that a Bitcoin will exceed the price of a Berkshire Hathaway share (c.$280k) by 2021. Have put him in touch with large syndicate hope he can get set!” 

The truth is that there are several investors very sure about the long term price of the famous virtual currency. For example, at UseTheBitcoin we reported on several occasions what John McAfee believes on the future of Bitcoin. He said that Bitcoin will reach $1 million dollars before the year 2021. So in this case, Mr. McAfee would be winning the bet mentioned by Tom Waterhouse.

Thomas Lee, Fundstrat Global co-founder, said that this year the famous virtual currency can reach $25,000 dollars, even when the market has been in a bear trend during the last semester.

At the same time, the Wall Street trader, Bart Smith, is also bullish on the future of cryptocurrencies.

“If you want to own the asset that you can actually use today and that people are functionally suing, it’s bitcoin. The use case for Bitcoin is valid today which is the currency of the internet,” commented Mr. Smith during a conversation with CNBC.

Some institutional investors are very interested in entering the market, but some of them do not trust the current services offered. Indeed, Bitcoin and other cryptocurrencies are being used all over the world to send and receive money. It is much cheaper, easy and fast than other traditional instruments provided by banks, for example.

Currently, Bitcoin is the most important virtual currency with a market capitalization of $107 billion dollars. Each coin can be bought for $6,266 dollars.

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