The same analyst who said that bitcoin would rise is also predicting now that the cryptocurrency could head to $300,000 and $400,000.
Ronnie Moas, the founder of Standpoint Research, predicted that bitcoin would hit $5,000 this past July when the digital currency was at just $2,600.
Bitcoin has sailed way past that, even hitting almost $20,000 this month.
Moas says bitcoin will soar way past $20,000. He stated, “Bitcoin is already up 500 percent since I recommended it in the beginning of July, and I’m looking for another 500 percent move from here.”
He told CNBC’s “The Rundown,” “The end-game on bitcoin is that it will hit $300,000 to $400,000 in my opinion, and it will be the most valuable currency in the world.”
“I don’t know how much gold there is in the ground, but I know how much bitcoin there is, and in two years there will be 300 million people in the world trying to get their hands on a few million bitcoin.”
“I don’t know how much gold there is in the ground, but I know how much bitcoin there is, and in two years there will be 300 million people in the world trying to get their hands on a few million bitcoin. This mind-boggling supply and demand imbalance is what is going to drive the price higher,” Moas explained.
“I look at bitcoin the same way I look at Amazon,” Moas has said. “The way to play Amazon for the last 15 years was to buy it, hold it, and add on the dips. That’s exactly the way I think people should be playing bitcoin.”