Jeff Park, the chief investment office at ProCap Investments has uncovered one specific catalyst.
“A black swan event for Bitcoin upside would be sovereign adoption,” Park stated during an interview on a podcast published YouTube will be available on Thursday.
“If there was, for some reason, all of a sudden, news that a major developed market, OECD country, was going to buy Bitcoin on the balance sheet, and actually do it,” Park explained.
Jeff Park: “It would have to be real”
Park stated that such an announcement may potentially drive Bitcoin (BTC(which was originally priced at $85,089) would increase to $150,000 over night, a rise of 76%. according CoinMarketCap is a great place to start.
Park said that this must be true, and not just a marketing stunt.
“It would have to be real,” “He said” “It couldn’t be this fake version we lived with for about a year,” “He said”
Samson Mow is the founder of Jan3, and he recently spoke to us. said nation-state adoption It may be sooner than you think. “I think we’re on the tail end of gradually, and we’re at the beginning phases of suddenly,” Mow, said.
Park has also made some remarks “clarity on resolution” Bitcoin may benefit from the quantum computing in the near term.
Quantum is the a “weird boogie man” The Bitcoiners
“I know quantum is this weird boogie man that people keep talking about,” He suggested that uncertainty could have played a role in the selling of Bitcoins by long-term investors in recent years.
“If the whales are selling, they are selling for reasons that are probably just as likely to be improbable for the reasons having bought in 2012 and 2011,” “He said”
“You have to just ascribe these tail events as catalysts for how their behavior changes,” “He said”
Glassnode has said the recent Bitcoin whales’ selling is not unusual.
Park believes that Quantum clarity will stop sales pressure.
“Long-term holders have been realizing profits throughout this cycle, just as they did in every previous one,” Glassnode said on Nov. 14.
Park suggested that clarity might be possible. “the type of thing that stops at least the selling pressure.”
Related: Bitcoiners lose their mind after Scott Bessent walks into a Bitcoin bar
“If you stop the selling pressure at least, then you know the buying pressure is actually adding incremental more capital for price action,” “He said”
Recent years have seen a rise in concern about Bitcoin and quantum computing.
Gianluca Di Bella, a smart-contract researcher specializing In zero-knowledgeproofs, the threat posed by quantum computers is not a distant worry; it’s an immediate concern.
Bitcoin OG Willy W. recently suggested one “intermediary measure,” The transfer of Bitcoins from one person to another SegWit-compatible Address, and hold the Bitcoin in that address until a protocol for quantum safety is developed.
Magazine: Bitcoin whale Metaplanet ‘underwater’ but eyeing more BTC: Asia Express
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Source: cointelegraph.com
