Crypto billionaire Brock Pierce has indicated that bitcoin (BTC) could either become extremely successful or a hard flop. In a interview With Fox Business, Pierce, who is chairman of the Bitcoin Foundation, indicates that investors should remain patient.
†[Bitcoin] could go to zero. It is a binary outcome. It either goes to $1 million per bitcoin or zero. It’s going to be one or the other, that’s why you shouldn’t put everything there.†
The current shape of the cryptocurrency sector reminds Pierce of the tech bubble of twenty years ago when new internet startups were set up every day.
†This reminds me a lot of 1999, doesn’t it? We are in that phase. And what came out of that? eBay and Amazon and all kinds of interesting companies came out of the Dot-Com-esque 1.0 era. And some of it went to zero. And I think that probably will be the case with what we see here as well. However, that does not mean that the innovation is not real and will not play an important role in our collective future.†
Pierce also indicates in the same interview that he has not only invested in bitcoin but also in EOS (EOS).
†I am also known to have made a nine figure investment on EOS. I converted all my Block.one shares into it. That’s public.
EOS, is a smart contract platform for decentralized applications (dApps), and is seen as a competitor to Ethereum (ETH).
“And beyond that, I’m very interested in what’s happening within the non-fungible token (NFT) market,” said Pierce. Research has shown that the NFT sector could be worth $13.6 billion by 2027. However, it is necessary for the current growth to continue.