Rising as one of the most pro-crypto and pro-blockchain jurisdictions, Wyoming is making headlines as three of the most prominent figures in the State, Caitlin Long, Trace Mayer and Tyler Lindholm featured on Peter McCormack’s podcast to share some of the latest developments.
Mayer correlated math, freedom of speech and cryptography, stating,
“The U.S. Supreme court has already upheld cryptography and freedom of speech. And the amount of Liberty that you get is directly proportional to the amount of protection that you can acquire for yourself.”
He then went ahead and connected the thought with Bitcoin as to how the cryptocurrency can help users use it as a “weapon of self-defence against the confiscation of property, inflation and the due process of law.”
He clarified the aforementioned statement by saying,
“The capital is going to flee into places where the holders of that capital are able to secure protection at the lowest possible price. And so there we have it, the first amendment and the second amendment playing very well with each other in this digital age.”
Lindholm also highlighted how the state of Wyoming has made its laws better for basic economic activities on a local level, while also focusing on his vision to find bigger ways to free up economic activities, and also reduce the size and scope of government.
The intent behind this move is primarily to take away the U.S. government’s monopoly in providing licenses for every single business initiative.
Bitcoin can reach $25K if usage crosses 1M people: Thomas Lee
Managing Partner and Head of Research at Fundstrat Global Advisors, Tom Lee, recently made an appearance on CNBC‘s ‘Street Signs Asia‘ segment to talk about Bitcoin price movements in the future. Lee also spoke about why he thinks Bitcoin will touch $25K by 2022.
According to Lee, for an industry that’s over a decade old, these are still early days for digital assets. However, as time passes, it will become very institutional, he said. Fundstrat’s Lee added,
“Over time, it’s going to become an asset class, and once we hit that it’s actually another hockey stick.”
When asked about his prediction for the king coin’s price, Lee said that it had been established back in 2017 as a five-year prediction. According to him, the predicted goal would be easy to achieve due to cryptocurrencies being network value assets — the more people that hold it, the greater its value.
“In fact, it’s a log function, so if you double the users you get a quadrupling of value, and to go to $25,000 you essentially need a 4x rise (a little bit less than that) which means you need to double the number of people who hold Bitcoin.”
According to Lee’s estimates, there are under half a million people in the world who own and use Bitcoin widely today. He also compared Bitcoin to Internet stocks such as FAANG and attributed 70% of their returns since the IPOs to the growth of the Internet over that period of time.
“So in other words, it was a log function of the Internet growth, and that’s how cryptocurrencies are going to work. That’s just saying if you take it to a million users, you could get to $25,000.”