Mike Arrington, the Founder of TechCrunch, said this recently at the Korea Blockchain Week. Mike’s comment his reaffirming the thought of Michael Novogratz and some other crypto enthusiasts, opposing the opinion of some Billionaire who has cast aspersion on cryptocurrency. Arrington, an incurable optimist of cryptocurrency, shared his view and percentage of his investment in cryptocurrency.
Bitcoin’s Bullish Trend will Reach $25,000 This Year
He emphasized his view on the bitcoin that it would be a total game changer this year, and would legitimize the industry and lead to the massive influx of institutional money this year.
“My entire life has been in cryptocurrency; we’re bullish on it. But I’m always an optimist, right? I think we’re still gonna hit $25,000 this year easy and I sure hope we’re at a low right now.” These were his words at the blockchain week.
Meanwhile, the recent development of U.S. Security and Exchange Commission (SEC) approving Bitcoin ETF is a big booster to the prospect of what might become of Bitcoin this year. As reported earlier, though still not officially confirmed, it might be approved in September of this year.
Mike Arrington launched his XRP capital in November last year which is a hedge fund that is denominated in Ripples. Even though the project was doubted by many, he said it holds more BTC than XRP. Mike said that his choice of XRP is because it is an excellent way to move money across the borders quickly and at zero cost.
He further states that “…there is a lot of tribalism in cryptocurrency and a lot of Bitcoin maximalists… The one thing they all agree on is that all of them hate XRP because it is centralized, they think it is corporate-managed.”
To him (Mike), other cryptocurrencies are still striving to be there, but XRP is already there, even though there are associated risk. He further revealed that he only has 3-4 percent of his fund in XRP, with the rest diversified into Bitcoin and a few to their cryptocurrencies.
Mike has invested in many cryptocurrency, blockchain startups, and ICOs while he still looks forward to spending in Korea. One of the projects that his fund has invested in its (Dapps) platform is Mainframe an American decentralized app.