The CEO of the Strike payment service predicts that during the ongoing bull rally in the cryptocurrency market, Bitcoin will be able to reach $250,000 and even rise in price to $1 million.
Jack Mallers, on a podcast with Pomp Investments founder Anthony Pompliano, explained his bold prediction with the argument that Bitcoin is still in the early stages of its development. With the bond market currently facing challenges, central banks may want to inject significant amounts of liquidity into the financial system to stabilize it. This influx of liquidity will trigger the growth of assets, including Bitcoin, the businessman believes.
Many financial experts call Bitcoin a bubble or an asset for speculation, but Jack Mallers disagrees: Bitcoin is becoming increasingly popular with Wall Street financial giants changing their attitude towards cryptocurrencies for the better. The head of Strike believes that Bitcoin's limited supply of 21 million coins makes BTC as resistant to inflation as possible, unlike government currencies and gold.
The Lightning Network, a second-layer solution based on the Bitcoin blockchain for instant and low-cost transactions, can further increase demand for the first cryptocurrency. After all, the businessman is convinced, Bitcoin can be used for everyday purchases, for example, buying coffee.
In 2022, the head of Strike said that payment services must constantly improve, and Bitcoin does this best, surpassing money transfer networks like Western Union.
Source: Cryptocurrency
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