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Jeremy Liew, the Snapchat investors who forecast a $500,000 Bitcoin, says it is where investors should be.
Pioneering Snapchat investor Jeremy Liew has stated that Bitcoin is the place to be for investment today.
Speaking to CNBC, Liew, who in April forecast a Bitcoin price of $500,000 by 2030, suggested recent price advances were just the beginning for the virtual currency.
"If you're going to be an investor in anything, you want to be where the most trading volume is happening, and right now that's happening in Bitcoin," he explained.
Liew has been a bullish Bitcoin proponent as one part of Lightspeed Venture Partners, the VC firm that funded Blockchain’s initial development in 2014 when it was still known as Blockchain.info.
Given 2017’s political climate, the kind of prices seen recently is a beginning, not an end, Liew forecasts.
"Bitcoin and the other digital currencies, they all really see a lot of benefit in times of political and economic instability," Liew continued.
"Fundamentally, when a citizen doesn't have faith in the currency of their country, then they are looking for alternatives, and a digital alternative like bitcoin becomes much more compelling in those circumstances."
Liew joins various well-known commentators who have weighed in on the future value of Bitcoin in recent weeks. While their estimates have ranged from $5000 to $1 mln within ten years, Liew held off from further predictions.
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