Cryptocurrency investors and blockchain enthusiasts are greatly encouraged to see the mother ship of all digital assets, Bitcoin, knocking on the door of the $4,000 level. As we take a longer-term view of Bitcoin and the crypto-sphere generally, many of Crush the Street’s readers are seeking guidance as to where the sector may be headed for the remainder of the year.
We like to get the perspective of great minds in the industry when it comes to financial matters, so Crush the Street gladly accepted the opportunity to interview cryptocurrency pioneer Charles Hoskinson, Chief Executive Officer at Input Output HK, located on the worldwide web at iohk.io.
Based in Colorado, Charles Hoskinson is a renowned technology entrepreneur and mathematician. He attended Metropolitan State University of Denver and University of Colorado Boulder to study analytic number theory before moving into cryptography through industry exposure.
Mr. Hoskinson’s professional experience includes founding three cryptocurrency-related start-ups – Invictus Innovations, Ethereum and IOHK – and he has held a variety of posts in both the public and private sectors. Additionally, Charles was the founding chairman of the Bitcoin Foundation’s education committee, and he established the Cryptocurrency Research Group in 2013.
Charles Hoskinson’s current projects focus on educating people about cryptocurrency, being an evangelist for decentralization, and making cryptographic tools easier to use for the mainstream. This includes leading the research, design and development of Cardano, a third-generation cryptocurrency that launched in September of 2017.
Courtesy: Charles Hoskinson
Charles founded Input Output HK in 2015 with Jeremy Wood as an engineering company that builds cryptocurrencies and blockchains for academic institutions, government entities, and corporations. They are committed to using peer-to-peer innovations to provide financial services to the three billion people who don’t have them.
Crush the Street knew that Mr. Hoskinson’s time and attention are valuable, so we got straight to the point and asked for his outlook on Bitcoin going forward. According to Charles Hoskinson, he’s see quite a lot: he’s been in it since Bitcoin was around a dollar, and he’s watched it go up to $250, then down to $80, up to $1,200, back down to $250, and then to $20,000.
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So now we’re back at the $4,000 level, and according to Charles Hoskinson, the Bitcoin roller coaster will always be here – but as long as it’s generally trending upwards over time, it should be fine from a long-term perspective.
Besides, it’s not all about the price action, as that’s not the best way to measure Bitcoin. According to Charles Hoskinson, when we measure Bitcoin in terms of liquidity, consumer adoption, and infrastructure, we can see that it’s getting better every year.
Another thing to bear in mind that that Bitcoin, and the crypto/blockchain industry as a whole, is going through a major upgrade cycle. In terms of scripting languages, network stacks, and other features of the blockchain, we’re seeing consistent improvement and that’s benefiting the bigger cryptocurrencies, including Bitcoin.
Courtesy: Charles Hoskinson, Input Output HK
When we look at factors like trading volume, market accessibility, and the cost of production of Bitcoin, we can get a better picture of where the price floor might be. With demand increasing and more people coming into Bitcoin every day, according to Charles Hoskinson, the current price levels for Bitcoin appear to be entirely sustainable for a one-to-three-year time horizon.
Beyond the price being sustainable, according to Charles Hoskinson, he expects that the price will move up over that multi-year time frame. The big event that the market is waiting for is a regulatory one: ETF approval, which would provide the necessary legitimization for cryptocurrency so that large-scale investment funds to get into crypto.
Speaking with Charles was time well spent, so be sure to view the full presentation of Crush the Street’s interview with Mr. Hoskinson. And, while you’re at it, don’t forget to visit Charles Hoskinson and Input Output HK at iohk.io for industry-leading blockchain and cryptocurrency solutions.
Crush the Street is fully dedicated to education anyone and everyone with a sincere desire to learn about, and profit from, all matters relating to finance and the blockchain. To that end, we’ve released a number of special reports that you can download today, including our rookie-to-expert guide to cryptocurrency investing, our guide to strategic positioning in Security Tokens for once-in-a-lifetime profits, and our report on my number-one pick to capitalize on the exciting future of blockchain technology.
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