Bitcoin's Future: Angel Investor Discusses Potential Risks

According to U.Today, prominent American angel investor Jason Calacanis recently shared his thoughts on Bitcoin's future in a social media post. He suggested that while there is a possibility of Bitcoin crashing to zero, the likelihood of such an event is now less than 5%. Calacanis remarked that Bitcoin has become "too big to fail," a significant shift from his 2018 prediction when he estimated a 70% chance of the cryptocurrency collapsing during a severe bear market. Calacanis expressed concerns about Bitcoin being a "highly manipulated currency" with no governing rules or regulations. He warned that those who did not invest early might find themselves at a disadvantage. Despite these concerns, he acknowledged the resilience of the Bitcoin network, noting its ability to withstand attacks from nation-states and hacker groups. Calacanis also expressed surprise that Western governments have not banned Bitcoin, highlighting the network's "brilliance." The investor disclosed his substantial investment in Bitcoin, stating that he purchased a significant amount when the price was between $100 and $200 and has not sold any of it. This disclosure comes as Bitcoin recently reached a new record high of $81,800, underscoring the ongoing volatility and potential for growth in the cryptocurrency market.