Bitcoin to have ‘crazy decade’ as global wealth managers dive in

Subscribe onWhile some investors may see Bitcoin’s current prices as a peak for the asset, industry professionals say that the crypto asset will continue to surprise investors as more global wealth managers allocate funds to BTC.  

Bitcoin to enter a “crazy decade” ahead

Speaking to Cointelegraph at the Bitcoin Amsterdam 2024 conference, Rochard said there’s a misleading narrative that Bitcoin gains are in the past. The executive said that from a global wealth balance sheet perspective, Bitcoin adoption is “still less than 1%.” He explained: 

“While people look at the historical price action of Bitcoin and they think, ‘Oh, all the gains are in the past, now it’s a boring asset.’ I think that that’s a very misleading narrative and that they’re going to be caught surprised.”

Is Hyperbitcoinization already here? 

When asked if Hyperbitcoinization — the concept that goods and services will eventually be priced in Bitcoin instead of fiat money — would come in two to three years, Rochard said that it may have already arrived. He told Cointelegraph: 

“With Larry Fink going on TV and saying that Bitcoin is above government, it does feel like Hyperbitcoinization has already arrived where we’re there. And then it’s just a matter of getting the word out.”

Related: Bitcoin Amsterdam: Flawed research drives harmful Bitcoin policies

The executive described this as a pivotal shift, that the leader of a firm with trillions in assets under management would speak so earnestly about Bitcoin. 

“I don’t get the impression that he’s just trying to sell a product. I get the impression that he’s actually orange-pilled. And, you know, he’s on board with it,” Rochard added. 

LeClaire also noted that the current situation is “quite something to behold,” as BlackRock pitch decks and CEOs on CNBC echo the talking points of Bitcoin maximalists for the last decade. 

The executive said that some of the arguments that Bitcoiners have published through the years are now being talked about by “industry titans of finance.”