The founder of Real Vision, Raoul Pal, recently said during an interview that Bitcoin could be worth USD 1 million by 2025. During his speech, he assured that the main cryptocurrency in the market could exceed gold in a greater proportion.
In this context, that the price of Bitcoin reaches USD 1 million by 2025, is “more or less correct,” confirmed Pal. The founder is famous for his bullish stance on Bitcoin. He said that a “huge amount of money” will flow into cryptocurrency in the coming years. “I think that’s right, whether it’s five or six years,” he said when asked about the $ 1 million target.
“We are going to go through two of these halving cycles, and just from what I know of all the institutions, all the people I talk to, there is a huge amount of money going into this. It’s a huge pile of money, just that the entryways aren’t there to allow people to do it yet, and that’s coming, but it’s on everyone’s radar screen and there are a lot of smart people working on it. “
Pal also revealed that he would be looking to sell his gold investments and convert them to Bitcoin due to the latter’s superior performance. In all this context, Pal indicates that indeed, Bitcoin could be worth $ 1 million by 2025.
News of the day: OKEx suspends withdrawals
OKEx has suspended all cryptocurrency withdrawals indefinitely. Saying that one of the exchange’s key holders has “been out of touch” with the exchange because he is “currently cooperating with a public security office on investigations.” The OKEx CEO later said that the investigation stems from the key holder’s “personal problem”.
Lack of contact from the key holder prevented the withdrawal authorization from being completed. He wrote the exchange in a notice posted earlier today.
Meanwhile, Chinese news source Caixin reports that one of OKEx’s founders, Mingxing “Star” Xu, was kidnapped by the police at least a week ago. And, it has not been seen since.
Hours before OKEx’s announcement, significant withdrawals of Ethereum, Tron, and Bitcoin were made from known OKEx-affiliated addresses. As collected by the chain transaction monitoring service Whale Alert.
The price of Bitcoin and cryptos fall after withdrawal suspension at OKEx
The price of Bitcoin registers a drop of -1.61% in the last 24 hours. Currently according to our online crypto tool, the main cryptocurrency on the market is trading at USD 11,337.
Now, various analyzes associate this drop with reports of the suspension of withdrawals by the international exchange OKEx. Which is estimated to handle around USD $ 2.3 billion in BTC funds belonging to its clients.
The drop seen in the price of Bitcoin was also present in most of the main cryptocurrencies of the ecosystem. So the markets score in red this October 16.
With falls above 2%, cases such as Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Binance Coin (BNB), Polkadot (DOT), Cardano (ADA), Litecoin (LTC), Bitcoin SV stand out. (BSV), EOS, TRON (TRX), Monero (XRM) and Tezos (XTZ), respectively.