‘Bitcoin will go to zero’: Davos talks up the future of blockchain

The price of bitcoin could nosedive to zero, a top investor in the crypto space told CNBC during a debate, which focused on the future of the underlying technology known as blockchain. After hitting a record high in 2017, bitcoin, the world’s largest cryptocurrency by market capitalization, fell dramatically. Schumacher is a big investor in blockchain-focused companies. During the debate, Glenn Hutchins, chairman of North Island, said bitcoin’s role in the future may be focused on being a store of value. “It might be that the role of bitcoin in the system could be to bring value back, to hold your value there while you have tokens that have other use cases that you aren’t using at the moment,” Hutchins said.

Source: www.cnbc.com