{"id":25766,"date":"2015-10-23T04:00:00","date_gmt":"2015-10-23T04:00:00","guid":{"rendered":"http:\/\/ci027dc2023000244f"},"modified":"2015-10-23T04:00:00","modified_gmt":"2015-10-23T04:00:00","slug":"barry-silbert-on-bitcoin-s-future-the-bitcoin-price-will-be-higher","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/barry-silbert-on-bitcoin-s-future-the-bitcoin-price-will-be-higher","title":{"rendered":"Barry Silbert On Bitcoin\u2019s Future: \u201cThe Bitcoin Price Will Be Higher\u201d"},"content":{"rendered":"
<\/div>

The Digital Currency Group (DCG), a company founded and led by Barry Silbert, held an investor day in Palo Alto, California, where companies could demo their products to investors in the Bitcoin and blockchain space. <\/p>\n

DCG is the firm responsible for the Bitcoin Investment Trust, which started trading on the OTCQX back in May under the ticker \u201cGBTC.\u201d<\/p>\n

During the event, Silbert gave a presentation where he laid out his predictions for bitcoin in 2016:<\/p>\n

TOP TEN PREDICTIONS FOR 2016<\/strong><\/p>\n

    \n
  1. Bitcoin as a currency\/store of value re-emerges as theme<\/li>\n
  2. When price starts to increase, flywheel effect begins\u2026<\/li>\n
  3. Wall Street begins to trade bitcoin<\/li>\n
  4. Cross border payments\/remittance using bitcoin becomes competitive<\/li>\n
  5. Growth in Brazil, China & Middle East<\/li>\n
  6. Slow progress around private blockchains for financial markets<\/li>\n
  7. Industry consolidation and shake out continues<\/li>\n<\/ol>\n
      \n
    • Non-financial use cases of blockchain ledger explode<\/li>\n
    • Banks begin to service digital currency companies<\/li>\n
    • Bitcoin price on 12\/31\/16 = higher <\/li>\n<\/ul>\n

      Silbert expressed significant optimism related to the price of bitcoin. <\/p>\n

      \u201cBitcoin price will be higher,\u201d Silbert said. <\/p>\n

      At the Inside Bitcoin\u2019s conference in New York City in April, he made a similar claim when he offered one of two outcomes: Either the price would be $0 or it would be significantly more than it was at the time. \u201cIt won\u2019t be $230,\u201d he said in April. <\/p>\n

      His predictions were focused around three main points. First, as the currency\/store of value theme re-emerged, the price would start to increase, which would result in the flywheel effect. As a wheel turns, it can easily gain more momentum, resulting in further turning. The fear of missing out propagates an ever-increasing price, which partially contributed to the previous bubble. <\/p>\n","protected":false},"excerpt":{"rendered":"

      \u201cBitcoin price will be higher,\u201d Silbert said.<\/p>\n","protected":false},"author":3596,"featured_media":25767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1653,132,890],"class_list":{"0":"post-25766","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-barry-silbert","9":"tag-bitcoin-price","10":"tag-dcg"},"author_data":{"id":3596,"name":"Jacob Donnelly","nicename":"jacob-donnelly","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/bitcoin-schmitcoin-promo-image-2-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/bary-silbert-on-bitcoin-s-future-the-bitcoin-pwidth-800.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/25766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3596"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=25766"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/25766\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/25767"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=25766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=25766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=25766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}