One of the largest Bitcoin miners in China has suggested that the price of Bitcoin could reach $10,000 or even as high as $1 mln.

Speaking to at the Clare Hall of the University of Cambridge, on the sideline of the Internet-of-Value: Digitising Social Conscience - roundtable debate, Chandler Guo emphasised that all an individual needs to do is invest in just one Bitcoin - as most people don’t invest in it and yet they want to know more about proof of work, how the Blockchain works, why do blocks require 10 minutes, etc.

Guo says in the Youtube video:

“But finally, I tell them, just go back and buy Bitcoin. A lot of people don’t have Bitcoin...Not too much. Only one is enough. If everyone would have just one, the Bitcoin value would go to $1 mln. When Bitcoin becomes $1 mln, the whole world would be crazy and everyone would love to follow and all the other digital currencies would just be the grandson of Bitcoin.”

Everyone just needs to buy one Bitcoin

The angel investor in Bitcoin and Ethereum startups believes that a lot of people don’t exactly understand why they should be involved with Bitcoin, as they perceive it to be expensive. However, Bitcoin is a great investment and in the long run its value is only going to appreciate.

“For Bitcoin to be considered a success, it must have gone to $10,000 by today,” explains Guo.

“It’s the first level - go to $10,000, then to $1 million. Everyone just needs to buy one Bitcoin and everyone in the Bitcoin community should build applications on Bitcoin and Ethereum Classic - not on Ethereum. I think there is too much control exercised by the Ethereum Foundation. I like it decentralized. I think these two will become very great in the future. Everyone should just think about how to build their applications on these two systems.”

What’s next?

He further elaborated that when everyone buys a Bitcoin, all those who have it will be on the same page. Though that time will eventually come, he didn’t say when. He only noted that when it comes, it would move very fast and by then, everyone would have to accept Bitcoin for its value in the world.

He likened it to the election of Donald Trump as the U.S. President, saying everybody must accept it or move out of America.