Lark Davis Names Big Money Maker in Crypto – Not Bitcoin (BTC)
Cryptocurrency influencer believes that the biggest gains in the crypto space will not come from Bitcoin
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Crypto YouTuber Lark Davis (@TheCryptoLark on Twitter) has shared his views on what can help cryptocurrency users make big money in the crypto market. He does not believe that Bitcoin is the asset that will be the key tool here – even if it rises to the $1 million price level that many keep dreaming of.
Here’s what the “big money makers” will be
Davis tweeted that if you had bought $100 worth of Bitcoin back in 2011, you would have made about $1.5 million by now. He added that even if the flagship digital currency goes up to the much-anticipated $1,000,000 per coin, it will still only be a 34-fold increase.
Much bigger profits, he tweeted, are likely to be made on altcoins; it will be altcoins that will become “the big money makers”. He hastened to add that these investments are risky.
“Bitcoin either goes to zero or a million”
In an earlier tweet, the popular crypto YouTuber sarcastically stated that BTC is either going to hit zero or skyrocket to a million USD. These opposing views are often expressed by Bitcoin haters, such as Nouriel Roubini or Peter Schiff, or by major Bitcoin supporters.
Many of the latter, however, have stuck to more modest projections of $220,000 or $500,000.
Here’s who’s betting on BTC hitting $1 million
Prominent Bitcoin maximalist Max Keizer believes that Bitcoin will reach $220,000, without giving any specific or even approximate dates. Author of a popular self-help book on finance and investing, “Rich Dad, Poor Dad”, Robert Kiyosaki – who has also been a big fan of Bitcoin for the past three years, predicts that by 2025 the leading crypto will reach $500,000. His reason is constant money printing by the Federal Reserve, which has made the USD worthless paper.
The late crypto mogul John McAfee proclaimed that Bitcoin would reach $1 million by 2021-2022 before he began criticizing BTC as stone age technology in favor of altcoins and privacy coins in particular.
The recent all-time high reached by Bitcoin was near $69,000 in November 2021. Earlier this week, BTC retook the $30,000 level for the first time in the last 10 months. It is currently exchanging hands at $30,233, trading 56.07% below its ATH price.
Recently, former Coinbase CTO Balaji Srinivasan made an astonishing bet that BTC would reach $1,000,000 in the next ninety days. He also bet $1,000,000 on it, meaning that if he loses the bet, he will have to part with this hefty amount of cash.
