Blomer said the current economic environment is focusing on cryptocurrency as one of the very hard forms of money that is resistant to inflation.
He went up to say:
“The global macro environment has never before aligned the stars to highlight the value proposition of crypto quite like what we’re about to see in the next 24 months. Hold on to your seats.”
He added that investors will have to think differently about where to invest their funds.
On the other hand, Mike Novogratz, CEO of Galaxy Digital, responded to Blomer, saying he is seeing growing interest in the crypto market.
Novogratz maintains bullish outlook on the crypto market, but indicated that his patience with Bitcoin ran out.
The CEO said in a recent interview that he would exit the crypto market if BTC price does not double over the next six months.
Last month, Blumer said the king coin is targeting $250,000 regardless of what would happen in the traditional markets.
Bitcoin closely tied to traditional markets
Technical analyst John Bollinger said investors should be aware that Bitcoin is closely tied to traditional markets.
“It is really interesting to see BTC turned into just another risk-on, risk-off vehicle. Just another demonstration that in a real crisis all correlations really do approach one.”
Cryptolydian earlier reported that Millennials and Generation Xers in the U.S. may inherit nearly $70 trillion from Baby Boomers in the years to come.
If Millennials in the US were to spend nearly 5 percent of their inherited funds in Bitcoin (BTC), they would push the price up to $350,000 in 2044.