Frank Holmes, The CEO of an investment firm with billions of dollars in assets under management makes Bitcoin and Eth predictions. More so, Frank Holmes affirms that the price of Bitcoin (BTC) will hit seven figures while Ethereum (ETH) will reach six.
Furthermore, U.S. Global Investors head Frank Holmes mentions Bitcoin’s scarcity and growing adoption. Then, notes this is the major factor for this surge, where the top the cryptocurrency will surge by 1,600%
So, Frank Holmes explains.
“It’s Metcalfe’s Law. And because Bitcoin is capped at 21 million coins…”
“and Metcalfe’s Law says that the price can grow exponentially.”
More so, Frank dds.
“And what’s happened, and has continued to happen by other channels and what happens…”
“with PayPal – PayPal allowed investors to buy fractions. And then as it went up, they could…” “peel off a piece and buy a new TV. Or a car. So the idea that with Robinhood you can buy a…”
“fraction… you don’t have to pay $68,000, you could pay $680.
Furthermore, Frank Holmes continues.
“And now we have the ETF [exchange-traded fund] which allows the general public,…”
“even though it’s a derivative of a derivative, you can still buy a fraction…”
“And all those allow greater adoption globally. So I think that it could easily be a million…”
“dollars, down the road. Might be in the next 10 years.”
Currently, Bitcoin is trading at $58,574 at time of writing.
Additionally, Frank Holmes, The head of the investing firm having $4.6 billion in assets under management as of May. Of course, goes on to note he will not have surprises to see Ethereum hit 2,250% from the current levels.
So, Frank Holmes explains.
“It’s a $100,000 [for Ethereum]. It’s because the supply is locked…”
“Anytime you cap supply and there’s a greater adoption then these prices will grow as…”
“Metcalfe’s law suggests. We’ll grow exponentially and that’s what we’re witnessing.”
Lastly, Ethereum is trading at $4,277.
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