Recently, Jason A. Williams, Co-Founder and Partner at Morgan Creek Digital Assets, told Norwegian crypto exchange NBX why he is so bullish on Bitcoin.
Morgan Creek Digital Assets is a multi-strategy crypto-focused investment firm aimed at institutional clients and wealthy family offices. It was founded by Mark Yusko, Jason Williams, and Anthony Pompliano in 2018, and it is backed by asset management firm Morgan Creek Capital Management.
Norwegian Block Exchange (NBX), which was founded by Bjørn Kjos, “started as a spin-off from Norwegian Air Shuttle to introduce cryptocurrency payments to the air industry with the incentive to reduce cost related to payments, and the potential to be a leading exchange.”
As NBX explained in a blog post published last Friday (October 30), following the increasing amount of institutional adoption of Bitcoin in the past three months, it decided to seek “the current opinions of various industry leaders on Bitcoin’s recent performance and future outlook.”
Williams was asked “What’s your bull-case for Bitcoin as a safe haven?”
Williams replied:
“Bitcoin could hit 1–3M dollars in the next 5 years. People have no idea what it will look like when large banks and countries start holding bitcoin in their treasury.”
NBX says that he “also added that Bitcoin’s digital scarcity is a key feature in its continued growth across institutional contexts.”
On Tuesday (November 3), Williams said that currently 15 publicly listed companies own Bitcoin as a treasury reserve asset:
Another person NBX spoke to was Jeff Booth, Co-Founder of technology firm BuildDirect and author of the book “The Price of Tomorrow: Why Deflation is the Key to an Abundant Future”.
Booth was asked: “What, in your mind, is the biggest advantage of Bitcoin in today’s environment?”
He answered:
“If I had to pick just one advantage, (there are many), it would be its portability which will allow it to serve as a lifeboat to the coming economic storms.
“By portability, I mean that when governments confiscate your money -(and they will) through inflation, capital controls, taxes, or otherwise, most people won’t see it coming because all of their wealth is concentrated in one currency.
“It is why people get stuck as revolution(s) (caused by failing economic conditions) take hold. Their wealth becomes trapped. With Bitcoin, if you can remember 12 words, you can move your wealth anywhere in the world.”
Featured Image by “Free-Photos” via Pixabay.com
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
