Despite all the volatility we’ve seen in Bitcoin recently, one hedge fund manager says the cryptocurrency could reach $50,000 this year.
“There will be constant 30 percent corrections which I think are healthy for the market,” Anthony Pompliano, Managing Partner at Full Tilt Capital, told Cheddar. “As the market progresses, there are only going to be so many coins that are created, so the supply and demand of the industry is really going to drive that price up.”
Bitcoin prices are up more than 1,000 percent from a year ago, but it’s recently pulled back more than 40 percent from all-time highs near $20,000. On Friday it traded around $11,500.
But Pompliano says a crash could actually help build an infrastructure for the industry. He likens it to the dotcom bubble burst, which ultimately laid the groundwork for companies such as Amazon and Google.
“I think that’s going to happen here in crypto,” he said. “There’s going to be a bunch of scams, there’s going to be a lot people who get caught up with the tightening of regulations. But we’re also going to get a lot of sustainable technologies that come out of this that form the basis of the next 10, 20 years of the technology sector.”
For full interview [click here](https://cheddar.com/videos/why-one-venture-firm-is-going-all-in-on-crypto).
Co-founder and CEO of Rad Intel, Jeremy Barnett, joins Cheddar anchor Dave Briggs to discuss the influencer marketing space and how RAD is changing the game.
Founder, Chairman and Principal Analyst of Constellation Research Inc., Ray Wang, reveals how Tesla's Robotaxi is going to disrupt the transportation industry.
GameSquare CEO, Justin Kenna, joins Cheddar to discuss the online gaming space and how marketable it can be with billions signing on to play worldwide. Watch!
Working five days a week has long been the corporate cultural norm. But some companies are exploring the option of letting employees work four days a week.
