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).
On this episode of Cheddar Innovates: Vision Marine Technologies CEO discusses how e-boats will play a role in the fight against the climate crisis; Lasso CEO breaks down how the design behind these compression socks can prevent injuries and improve performance; Cheddar gets a look at Curiosity Stream's 'The Tombs Of Egypt.'
Catriona Campbell, CTIO, UK and Ireland, EY, joins Cheddar News to discuss how business leaders can bridge the gap between their technology investments and their aspirations, and breaks down the human aspects of A.I.
Bamboo-based toilet paper company Cloud Paper raised $5 million in a recent funding round. Its product is a bamboo-based alternative to traditional toilet paper made from trees, and its mission is to end the deforestation caused by traditional paper products. Cloud Paper says the raise will allow it to make significant investments in its supply chain, product development, and hiring. Ryan Fritsch, a co-founder of Cloud Paper, joined Cheddar News' Closing Bell to discuss.
The Biden Administration has now issued new guidelines when it comes to carbon capture. The new guidelines handed down this week encouraged the widespread use of climate attacks that traps and stores carbon emissions. The goal here is the process would help keep carbon out of the atmosphere without requiring a whole lot of change by big companies and manufacturing plants. Several scientists say that this method would be crucial to help us decrease the use of carbon emissions by the year 2050. Professor of Civil and Environmental Engineering at Stanford University, Mark Jacobson, joined Cheddar to discuss more.
