Crypto billionaire Brock Pierce thinks Bitcoin will either fail spectacularly or peak.
The leading crypto investor told Fox Business that investing in crypto entirely should be avoided.
“Bitcoin may go to zero. This is a dual result. Bitcoin will either rise to $1 million or fall to zero. It will be one or the other. That’s why you shouldn’t put everything there”
According to Pierce, the current look of cryptos is reminiscent of the tech bubble in which internet startups emerged more than two decades ago.
“This reminds me a lot of 1999. We are at that stage. What came of this? Alongside two businesses like eBay and Amazon is Dot-Com. Some of them went to zero.
This doesn’t mean that innovation isn’t real and you won’t play an important role in our collective future”
Pierce explained that in addition to Bitcoin, he has invested heavily in Ethereum.
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