Early Bitcoin adopter and crypto pioneer Nick Spanos has said he has no doubt that Bitcoin (BTC) is bigger than Elon Musk, who has become increasingly active in the crypto space in the last couple of months.
Specifically, a number of often-cryptic tweets by Musk have caused the price of a number of cryptocurrencies, including Bitcoin, Dogecoin and CumRocket, to rise or fall considerably, often in a matter of hours.
This has led some to argue that the crypto space can easily be manipulated by certain whales, even in the case of Bitcoin, the world’s largest cryptocurrency.
However, Spanos, founder of the ZAP Protocol, remains as bullish as ever on Bitcoin and he believes investors are starting to realize that it is “bigger than Elon Musk.”
“Even if the bottom isn’t quite here yet, it will be soon,” Spanos, who founded the world’s first ever physical crypto exchange in 2013, said.
“The bust cycle ‘crypto winters’ are going to pass by more quickly than in the past, as general upward momentum of non-price fundamentals is sustained.
“Once-scared newcomers realize that Bitcoin is bigger than Elon Musk — or even a certain Communist nation’s diktat. In this story, the forgotten people and the marginalized nations are going to be the victors.
“So a place like El Salvador is going to be punching far above its economic weight very soon.
“At this point it’s about education, so that fearmongering tweets from one person don’t pour fuel onto popular misconceptions. His currency in the crypto space might go to zero, but Bitcoin will go to the moon.
“In fact, it might even get to Mars before he does.”
Continuing, Spanos said that his analysts predict the price of Bitcoin “could very well breach the $90,000 mark by the end of the year.”
Bitcoin reached an all-time high of $64,829.14 in April, before plummeting off the back of Musk announcing that Tesla would be suspending Bitcoin payments and China cracking down on elements of the crypto space.
One Bitcoin is currently valued at $37,327.50, according to data from CoinMarketCap.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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