Famous trader explains that ’scarcity theory‘ will be responsible for driving the price of cryptomeda on the market.
Bitcoin is a work of art that could be worth $100 million,‘ says founder of BTG PactualNOTÍCIAS
The Bitcoin (BTC) should be considered a valuable work of art, according to the famous financial market trader, André Jakurski. In a recent interview with Luciana Seabra published by InfoMoney, he defends that the price of cryptomeda is established from the „theory of scarcity“.
Thus, in a live on Youtube on Wednesday (14) on the Spiti channel, the investor Immediate Bitcoin app said that BTC could be valued at as much as US$100 million, as is the case with some famous paintings in the arts market today.
Bitcoin’s price has risen more than 230% since last Christmas of 2019
Known in Brazil as one of the founders of the BTG Pactual bank, André Jakurski compares the Bitcoin to „a picture of Picasso“. In addition, the experienced trader says that BTC cannot be understood as just a store of value.
Bitcoin with art value
The trader André Jakurski argues that the price of Bitcoin should follow the trend of the art market, where the value of the pieces is determined by the theory of scarcity.
Bitcoin (BTC) may suffer ‚major shrinkage‘ and fall as much as R$ 110,000, according to analysis of the Bitcoin Market
As with objects considered valuable in the arts market, the founder of BTG Pactual recalls that BTC has an issue limited to 21 million units, and therefore cryptomeda should be understood as something collectible.
„In fact, it (Bitcoin) has no intrinsic value, it is sold by the theory of scarcity, because as they say it will not have more Bitcoin emissions, it will become a work of art that you collect“.
Trader compares Picasso’s works with cryptomeda
After talking about how Bitcoin should be classified by the financial market, the founder of JGP’s resource manager compared cryptomoeda to works by Spanish artist Pablo Picasso.
Bitcoin’s record-breaking indicator in 2017 lights up and cryptomeda could go up as much as R$1.9 million
Still talking about the theory of scarcity, André Jakurski predicts that the price of Bitcoin will be determined by the buyer, who may or may not accept to pay $100 million for a work of art.
„My opinion about Bitcoin is the same opinion I have about a Picasso painting: it can go up, as it can fall. And a piece of canvas with paint inside can be worth $50 million or $100 million, because it is the buyer who makes the price: if the buyer thinks it is worth it, he buys it“.
Bicheiro is better than Bitcoin operator
While the experienced trader André Jakurski advocates an overvaluation of Bitcoin in the market, the executive Faria Lima Elevator criticizes cryptomoeda and day traders.
According to Elevator, currently any Bitcoin investor believes he is an expert in the financial market. As reported by Cointelegraph, when commenting on cryptomoeda, the executive said it is „time to exchange your friend the day trader and Bitcoin trader. It is better to trade for a bicheiro“.