Austin says it is his thesis that 1 Ether is currently worth under $2000 today but $20,000 is possible by the end of the year because of the activity and interest in the Ethereum blockchain, NFTs, digital arts and DeFi ecosystem.
CEO & Co-Founder, Real Vision Group & Global Macro Investor Raoul Pal, predicts Ethereum would hit $20,000 in this bull cycle by comparing Ethereum and Bitcoin exponential growth in network effect from when they both hit 1 million active addresses which has lined up similarly. Bitcoin topped out at $20,000 in the last bull cycle and Raoul Pal believes Ethereum has potential to peak at the same price.
The record-smashing NFT sale of digital artist Mike Winkelmann, known as Beeple, at Christie’s for $69 million marks a potentially transformative moment for the art world. NFTs, or non-fungible tokens, are unique files that live on a blockchain and are able to verify ownership of a work of digital art.
Austin says this increases Ethereum network effect and could send Ether price to $20,000 because most of these activities and events are happening on the Ethereum blockchain.
He shared some Bitcoin news on MicroStrategy’s new purchase of another 262 Bitcoins for approximately $15 million, at an average price of $57,146 per BTC. New hodlers are taking profits but smart money is aggressively buying.
This episode premiered on March 12th 2021.