The cryptoanalyst and co -founder of the CMC Crest Foundation Willy Wooo suggested that Bitcoin would become an ideal asset for the next 1000 years, but he could not compete with the US dollar and gold if he does not attract even more capital.

Now the market capitalization of bitcoin is $ 2.42 trillion, this is less than 11% of gold capitalization ($ 23 trillion). The money supply in US dollars reaches $ 21.9 trillion.

Wu said that buying bitcoins for long -term storage large companies accelerate the penetration of bitcoin into the financial world. However, the debt structure of such companies has still been little studied, as a result, bitcoin on the balance sheets can be chopped, and people will lose a lot of money, an experienced investor fears. The same applies to companies investing in altcoins – they can create another bubble, warned Wu.

“The world cannot be changed while bitcoin – in my opinion, is an ideal asset for the next thousand years – will not be able to fulfill its monetary function. Calm capital should be poured into it. Then Bitcoin will become large enough to compete with the US dollar and gold, ”the entrepreneur said at the Baltic Honeybadger conference in Riga.

Wu believes that indirect investments in cryptocurrency through the spot exchange funds (ETF) or pension funds tied to bitcoin contribute to the concentration of a large number of digital coins in the hands of centralized organizations. This increases the risk of state intervention in the crypto industry – unlike the independent storage of cryptocurrency, Wu said.

“Investors with monetary bags prefer to go to cryptocurrencies through spot-bitcoin -etf or buy shares of companies buying bitcoins such as Strategy. And pension funds rely on Coinbase Custody decisions, ”said Willy Wu.

Last year, Willy Wu predicted that in the next decade, Bitcoin will grow to $ 1 million, but later it dispelled the hopes of investors that bitcoin could grow endlessly.