Xapo CEO Says Bitcoin Potential Can Reach $1M in 10 Years
In an interview with WSJ’s Evelyn Rusli, co-founder and CEO of Xapo Wences Casares, says that bitcoin has the potential to be worth up to $1 million 10 years from now.
The Argentine CEO of the bitcoin wallet and vault company claims that while growing up, his family has lived through financial hardship. Casares says that the first time he heard of bitcoin, he saw a solution to the economic distress people still go through today.
Xapo keeps user’s bitcoins safe in vaults in case of any emergencies or virtual attack incidents were to occur. The company wants their user base to feel secure when dealing with the digital currency.
When asked about his thoughts of those who say bitcoin will sink down to zero, Casares replies saying that bitcoin has the best universal ledger in the world. The reason is that people have easy access to bitcoin data due to the power of the internet and mobile phones. Banks don’t get to dictate bitcoin’s value as they do with gold.
With such a ledger, bitcoin falling to zero is unlikely in Casares’ eyes.
On the subject of bitcoin’s volatility and risk factor, Casares says:
“For a while (years), until it [bitcoin] becomes widely adopted… you can afford to lose [a little] as it will remain highly volatile for a while.”
Investors will have to stomach bitcoin’s price fluctuations for some time, until it finally becomes stable. Patience may have to be necessary for those looking to profit off of the digital coin.
In a blog post, Casares says that Xapo is:
“the industry’s first bitcoin company to offer online and offline security, coupling a fully-insured cold storage vault with a convenient wallet.”
He adds that bitcoiners should use the Xapo service, as it is coated with layers of security protocol. Through cold storage, bitcoins are kept offline, making them invisible to hackers. In the event that anything does happen to Xapo user’s bitcoins, all bitcoins are “fully insured” by Meridian Insurance.
Xapo allows bitcoins to be sent around the world without delays or inconvenient fees. The company was designed with the customer always in mind, focusing on accessibility and security.
Bitcoin potential has more room for growth, and Xapo hopes to be a part of its success.
For more bitcoin news, stay tuned to Coinreport.net.