Billionaire Backs Bitcoin

Billionaire Backs Bitcoin

While there have been some naysayers recently about Bitocin, these do not include Chinese Bitcoin Billionaire, Zhao Dong.

Zhao Dong, one of China’ most notorious cryptocurrency influencers well known for his OTC trading, endorsed Bitcoin via the trading group,
WeChat yesterday. He stated that while the rough times may continue throughout 2019, but when next year rolls around it will bring with it a resurgence in its value and the birth of a crypto spring. As such, it is his belief that right now is the best time to invest as by next year BTC could possibly be worth much more stating, “If you and I believe in the future of Bitcoin, (so) it is best to hold as much as possible when nobody cares.”

Dong, who owns a substantial stake in Hong Kong exchange outfit Bitfinex, remarks come at a time when many were losing faith in the currency while we are in the midst in what some are calling a crypto winter, with Bitcoin now 80% lower than its all-time high. He basis his opinion on a similar climate 3 years ago, just before Bitcoin reached its highest value ever in December 2017.  He stated that those who aren’t paying attention to the coin now, won’t until it is too late and will miss the boat. The billionaire had made similar statements back in November when he said that he believes it could reach up to $50,000 by 2021, which situates this new prediction in a similar timescale.

His views come just days after other big movers and shakers in the business have put their support behind Bitcoin. Most notably, a pioneer of Bitcoin, Charlie Shrem who just last month mentioned the idea of “phoenixes rising from the ashes,” in regard to Bitcoin’s current situation. He put the substantial drop in price down “building” efforts, which is coincides with comments made by Tyler and Cameron Winklevoss, the founders of Gemini digital asset exchange. Recently they said in an interview that they feel “totally at home in winter,” and that it has given them “time to build internally and refine and kind of catch our breath.”

As such, it seems Zhao Dong is not alone in his estimations of the BTC’s and on the contrary, is backed by some of the other biggest names in the business. This bodes well for Bitcoin’s potential to ride again.

If this is anything to by, the last few 12 months may have just been an off-period and 2019 may be the calm before the storm. A good opening two months in 2019 for the cryptocurrencies may already have pointed towards this. This is not to say we are out of the woods just yet and you should be you should still be wary about where you invest at this time. Dong also mentioned his belief this year will bring its fair share of woe too. He made it clear it was just plain sailing just yet and a few companies may vanish altogether in the coming months. However, his emphasis was overwhelmingly on a positive note and explained new ones will emerge as others fall. Ultimately, it is his belief that those who stick it out through the crypto winter, batten down the hatches and invest at a time when many aren’t will enjoy fruits of their labours.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

1xBit Guide: Crypto Sportsbook & Casino

The casino and sportsbook industry continues to witness an increase in the number of platforms within the space. This creates a challenge of identifying the best and most reliable sportsbooks that will offer you the most impressive services. In this guide, 1xBit shall be reviewed in terms of its service offerings and unique features that […]

11 January, 2022

XBE Community Launches a $500k Bug Bounty

Decentralized technology is built to attract the smartest and brightest brains from all over the world to work towards a common goal: free and fair financial systems. Despite the uncertainties surrounding future laws, DeFi protocols are rapidly adapting and growing to provide new ways for individuals to obtain more value from their money. And this […]

28 December, 2021

11 Biggest Sponsorships Deals for the Crypto Market in 2022

The global sports industry is looking to revamp its activities and recover from the after-shocks of the COVID-19 pandemic. Cryptocurrency platforms on the other hand have enjoyed immense growth and are searching for big platforms that can provide better brand visibility. That’s where sports and crypto make a perfect match with many global sports organizations […]

1 December, 2021

ChangeNOW Unveils a New Cashback Feature

ChangeNow offers crypto users smooth exchanges and doesn’t stop there. The exchange platform provides registered users a chance to profit from crypto swaps with cashback in NOW tokens through the ChangeNOW website. The cryptocurrency exchange and processing platform offer you an effortless way to turn your traffic into profit and boost your crypto journey. The […]

15 November, 2021

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Celsius Casino has become a go-to gaming destination for casino fans looking for an action-packed online gaming platform. The online casino boasts a robust game catalogue with over 4,000 games. The extensive game portfolio caters to Slots, Table Games, and Live Casino fanatics and is powered by well-known providers such as Evolution Gaming, NetEnt, and […]

9 November, 2021

ChangeNOW Has Announced the Release of its Own Digital Wallet

Limitless and swift crypto exchange platform ChangeNOW has released its own non-custodial NOW Wallet, facilitating fiat to crypto purchases and reliable crypto transactions from the comfort of a mobile phone. NOW Wallet is available in beta version for both iOS and Android devices and allows users to transact with over 20,000 currency pairs, regardless of […]

29 October, 2021

BitPanda Enhances Its BEST Rewards Programme

The EU-based cryptocurrency exchange, BitPanda, has improved its loyalty programme, BEST Rewards. It is now providing owners of its BitPanda EcoSystem Token (BEST) an additional 12% in potential revenue each year. Every registered BitPanda user who has BEST in his or her wallet and carries out at least one monthly trade will be eligible for […]

25 October, 2021

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021