Bitcoin

Can Bitcoin Become a Global Reserve Currency? John Oliver Weighs In

JP Buntinx | March 12, 2018 | 9:04 am
Bitcoin

Can Bitcoin Become a Global Reserve Currency? John Oliver Weighs In

JP Buntinx | March 12, 2018 | 9:04 am

The future value of Bitcoin has always been an intriguing topic of debate. Any prediction associated with this notoriously volatile cryptocurrency will always generate a backlash. John Oliver, the host of HBO’s Last Week Tonight, is a bit on the fence in this regard. More specifically, he claims Bitcoin can be either worthless or billions very soon.

John Oliver and Cryptocurrency

It is always refreshing to see a new talk show regarding cryptocurrency. Although this is just one episode of Last Week Tonight, it does raise a lot of interesting questions. More specifically, John Oliver touched upon some very intriguing topics during that episode. One of his topics revolves around the Bitcoin price, which is of great interest to many people around the world.

More specifically, John Oliver states the obvious truth about Bitcoin. Its price will either be zero or billions in the next few years. This is the most logical assumption when it comes to the future Bitcoin price right now. It is a big gamble to invest in cryptocurrrency. That also applies to any other investment people make in other industries.

John Oliver wants to warn people about the risks. Markets are volatile and tend to swing either way. It may not necessarily be a global currency anytime soon either. However, Oliver acknowledges it may happen, for all we know. We see more efforts towards regulating Bitcoin, which also gives it more legitimacy in the long run.Until that is in place, however, Bitcoin will always remain a niche market, for obvious reasons.

Can Bitcoin be Worth Billions?

If John Oliver is to be believed, a billion-dollar value for Bitcoin is not impossible. Achieving that high value will not be easy whatsoever, though. The way things look right now, breaking the $12,000 resistance will be very difficult. Reaching a billion per BTC means the current value needs to increase by quite a margin. It is not impossible, but it is highly unlikely from a short-term perspective.

That being said, the John Oliver show also warns people not to invest money they cannot afford to lose. Unfortunately, most cryptocurrency enthusiasts won’t heed that warning. More specifically, the FOMO in this industry has never been higher than right now. People are seemingly concerned about missing out on the next financial revolution.Throwing caution to the wind is never a good idea, that much is rather evident.

For the time being, it will be interesting to see how well the prediction by John Oliver holds up. It seems we are in for a lengthy period of status-quo as of right now. That doesn’t mean things won’t improve or deteriorate in the future. Anything is possible in the world of cryptocurrency, especially right now. With the futures market gaining popularity and cryptocurrency hedge funds increasing in number, things will get very interesting. For now, the Bitcoin price will remain a topic of substantial debate for quite some time to come.

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