On Thursday, in an interview with Julia LaRouche of Yahoo Finance, Jones laid out his vision for the cryptocurrency market for decades to come.
“I am by no means a Bitcoin expert,” Jones said, adding:
“At a market value of $ 500 billion, this is the wrong market value in a world where I got $ 90 trillion from the market value of a stock, and God knows how many trillions of fiat currencies.”
Jones referred to the idea that the market value of Bitcoin, which is currently $ 358 billion dollars, is too small for the utility case and future value drivers. He continued:
“Bitcoin reminds me a lot of internet stocks in 1999 because the internet was in its infancy. No one knows how to evaluate it because of the many opportunities that lie ahead. ”
Jones predicts that everyone, including sovereign countries, will use a “digital currency” over the next 20 years. Then the cryptocurrency market will be very similar to today’s “mineral aggregator” where you have a “precious cryptocurrency” like bitcoin that takes over the role of gold and cryptocurrency for transactions that act as industrial metals such as copper. and aluminum.
Jones spoke publicly for Bitcoin in May when he called the asset “the fastest horse in the race” against inflation. Just last week, he unveiled a fractal model based on the path to gold from the 1970s to predict bitcoin price increases next year.
2020 could be the year organizations forever want to change the bitcoin path. Institutional fingerprints help overcome an annoying bitcoin shortage that drives up prices when companies and large investors receive all 900 bitcoins that are mined daily.
Crypto assets will officially hit Wall Street’s data streams in 2021, allowing investors to track price movements every minute. The S&P Dow Jones indexes announced on Thursday that they will soon launch cryptocurrency indices for over 550 of the most traded currencies.