Veteran cryptocurrency investor who also doubles as the founder and CEO of BKCM LLC, an investment consortium that majors in digital currencies, Brian Kelly, has in a recent statement predicted that Bitcoin (BTC) will in a matter of three to six months reach 20,000 USD price and a further surge will make the leading cryptocurrency hit a new all-time of 50,000USD by 2021. This, Kelly related in connection to post halving bull run.
Kelly made these predictions while participating in a virtual interview at the CNBCFastMoney program which was shared on Twitter. He explained that people tend to be skeptical about where the price of Bitcoin would go because the king coin seems not to move in line with their predictions.
When Kelly was asked which asset he would prefer to buy between Bitcoin and Gold, he hammered on Bitcoin as the favourable asset to venture into. He explained that this is not because he trades crypto as he has series of assets like Macro and precious metals he invests in.
The BKCM LLC CEO explained that he favoritism for Bitcoin was because compared to precious metals, Bitcoin has better fundamentals like “stock-to-flow ration, it’s better than gold at this point.”
He added that Bitcoin bull run is tends to cluster around halving, hence tracking the 2016 halvening cycle would imply that Bitcoin, in Q2 2021, would rise to $50,000 per unit price – a long term target as Bitcoin is now breaking out of the 2-year range.
“Bitcoin looks like a gold two-five times higher.”
Kelly echoed that when Bitcoin is ready to make a bull run it takes it beyond what everyone has expected and the biggest cryptocurrency by market cap would break the $20K limit in a short while.
Kelly aside from being the Founder and CEO of BKCM LLC, is one of the contributors at CNBS U.S and he is also an investment advisor. His involvement in Bitcoin and cryptocurrency started in 2013 with the thought of making fast money from buying and trading some BTCs.
However, in 2014 Kelly launched his version of an experimental crypto coin in a bid to further explore, preach the awareness and gain more knowledge about digital assets class. He is the author of “Bitcoin Big Bang” a book sold in exchange for BTC.
Nonetheless, when Guy Adami, a member of the CNBC Fast Money and the Vice-Chairperson of The Leukemia and Lymphoma Society’s New Jersey Chapter board, who also featured in the interview, was asked by the program moderator Melissa Lee what is the better buy between Gold and Bitcoin.
Adami responded Gold and reechoed the word gold, he emphasized that he had been there before and that he would choose gold over and over again against Bitcoin.
