Claire Wells, Director of Legal and Business Affairs at mobile payment company Circle, believes the price of bitcoin is set to increase. She cited impending regulation as the primary reason.
‘I do think we will see an increase in value’
For some, like Circle’s Director of Legal and Business Affairs, Claire Wells, the future increase in Bitcoin’s value is obvious — especially once defined regulation comes into play.
Wells told Express.co.uk:
We are seeing slightly less volatility at the moment. Prices are down and trading is down but I think the price will increase again over the next few months and I think a lot of people are waiting to hear how regulation is thinking about it.
Wells also told the daily national middle market tabloid newspaper that a marketwide rise in cryptocurrency prices is “inevitable,” stating:
I wouldn’t necessarily want to put a price tag on or a currency frontrunner but I do think we will see an increase in value and, I mean, that’s inevitable.
Betting Big on Cryptocurrency
Wells’ company, Circle, recently unveiled the latest addition to the catalog of cryptocurrency investment offerings. Called “Buy the Market,” the product is targeted at retail cryptocurrency investors — especially first-time investors looking to test the proverbial waters — and features seven cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Zcash, Monero, and Ethereum Classic.
The new product allows users to invest in all seven listed cryptos simultaneously and lets them decide how much they wish to put up in their portfolio by using a weighted allocation framework to distribute the funds among the seven offerings using their market capitalizations. The minimum investment sum is $1 while the maximum weekly limit is $10,000.
Last month, the Goldman Sachs-backed fintech startup also announced its plans to launch a cryptocurrency pegged to the U.S. dollar, following an incredibly lucrative investment round dominated by cryptocurrency mining monopoly Bitmain.
What do you think about Wells’ statement that a price increase for Bitcoin and cryptocurrencies is inevitable? Let us know in the comments below!
Images courtesy of Shutterstock, LinkedIn / Claire Wells.