Consultants See Bitcoin at $40,000 Amid BTC Predictions Backing US Greenback

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  • Todd Horwitz has criticized the US fiat foreign money system as fraudulent.
  • Horwitz helps the inclusion of Bitcoin in a basket of belongings backed by the U.S. greenback.
  • He expects the Bitcoin value to achieve $35,000 after which $40,000 in six months.

In a current interview with Todd Horwitz, chief market strategist at BubbaTrading.com, the controversy shifted to Bitcoin (BTC)’s potential position as each a foreign money and a commodity backing the US greenback, as political candidates argue for a return to hard-asset-backed currencies.

The interviewer highlighted attention-grabbing traits amongst 2024 US presidential candidates, together with Democratic candidate Robert Kennedy Jr.’s insistence on supporting the US greenback with bodily belongings comparable to gold, silver, platinum, and even Bitcoin. Kennedy believed that the measures would stabilize the economic system, curb inflation, and usher in a brand new period of American monetary stability and prosperity.

Requested for his ideas on the pattern, Todd Horwitz criticized the present fiat foreign money system as fraudulent. He careworn that currencies want some sort of backing to forestall governments and central banks from devaluing them at will.

Horwitz acknowledged the potential advantages of backing the greenback with bodily belongings and referred to as for a benchmark to find out the greenback’s worth relative to a basket of commodities.

Concerning the feasibility of backing the US greenback with gold, silver and different commodities, Horwitz referred to the unique gold backing. Nonetheless, he acknowledged the issue of figuring out the best assist ratio and whether or not a few of the Treasury and different insurance policies can be found.

The interviewer introduced up the inclusion of Bitcoin within the basket of laborious belongings proposed by Robert Kennedy. Horwitz has expressed his assist for Bitcoin, contemplating it the foreign money of the libertarian motion. He praised the rising recognition of BTC by regulators such because the CFTC. Horwitz noticed bitcoin as a doable candidate to incorporate within the basket of belongings backing the US greenback.

When discussing the Bitcoin value outlook, Horwitz expressed optimism. He expects the upward trajectory to proceed, with the subsequent base value more likely to hit $35,000 and even $40,000 over the subsequent six months.

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