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Friday, April 14, 2017

Bitcoin Price Should Breach $1,300 To Make Bitcoin Investment Asset: Lingham

Bitcoin Price Should Breach $1,300 To Make Bitcoin Investment Asset: Lingham

Vinny Lingham, an outspoken Bitcoin entrepreneur, has described Bitcoin as a speculation tool rather than an investment asset at this point in time. This comes in the wake of the current impasse in the Bitcoin community which is unhealthy for the landscape.

Lingham is the co-founder of Gyft, Silicon Cape and the CEO of CivicKey. He expressed his opposition to a hard fork. At this juncture, however, he thinks Bitcoin is speculative because of its misty future as a result of the ongoing acrimony surrounding it. "It is a speculative asset because of all the conflict around scaling. There is no clear path forward," Lingham told Cointelegraph.

"The South African serial Internet entrepreneur and VC investor is of the opinion that Bitcoin can only become an investment asset when it breaches $1,300 sustainably. Is it going to happen soon? Lingham doesn’t think so."

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