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Barry Silbert: ten predictions about Bitcoin and blockchain for 2017

Famous investor Barry Silbert believes that 2017 will be very positive for the entire ecosystem of Bitcoin and its underlying technology blockchain.

Silbert made his predictions for the next year at the recently held annual Bitcoin & Blockchain Summit, organized by the DCG.

Below there are the top ten predictions of Barry Silbert in 2017:

1. Bitcoin price at the end of December 2017 "will be higher"

In the past, Barry Silbert had already made optimistic predictions about the price of Bitcoin. This time, his prediction coincides with the opinion of many analysts, the stock exchange and financial experts, who also expect growth of prices for cryptocurrency not only until the end of 2016, but over the next year.


2. The materialization of micropayments

Integration of micropayments in browsers, storage, social media platforms etc. is already happening. Barry Silbert expects that, finally, there will an opportunity to send microtransactions worth several cents using Bitcoin. Eliminating intermediaries may lead to a serious transformation of the advertising business, but will also allow artists and content creators receive direct remuneration for their work.

3. The first major mergers and acquisitions

Bitcoin industry already knows examples of multi-million dollar acquisitions. Barry Silbert believes that in the future we will become witnesses of other similar transactions, where the absorption value at $ 50 million and more is very real.


4. SEC will manage ICO's organizers

The Securities and Exchange Commission (SEC) is certainly aware of Bitcoin. And many experts warn, the next big step of the Commission may be a closer look at the activities of the organizers of cryptocurrency tokens’ crowdsales (ICO). It is possible that such crowdsales will be classified as trading securities and, accordingly, should be regulated. While many continue to ignore such warnings, Barry Silbert believes that they do so at their own risk.


5. Increased competition in the market for identification solutions

Identification in blockchain is rather a sensitive issue for many. At the same time, these solutions are able to solve a number of problems in real life, from identity verification to documentation of millions of people around the world, as, for example, even the UN is considering this issue.

6. The growing number of blockchain solutions for the supply chain

The excitement, accompanying blockchain, penetrated into almost every industry, and one of the key areas where the technology can really be useful is the supply chain and global trade. Such examples are already available: for example, the British consumer cooperative The Co-op Food in partnership with blockchain-startup Provenance is testing a solution that enables to track all the way of seafood shipped to stores and restaurants.

7. The exponential growth of Bitcoin transactions in India, Japan and Middle East

The volume of Bitcoin transactions is growing around the world, but some regions, especially those where a large number of technology start-ups is present, stand apart. Distribution of Bitcoins here is accelerating.

8. The volume of cross-border payments in cryptocurrency will exceed $1 billion

Remittances are one of the most promising usecases of Bitcoin, as they prove to be faster and cheaper than traditional services. With the improvement of infrastructure Bitcoin, there is an increased threat for the models that use services like Western Union; moreover, all this is happening against the background of growth of smartphone users, which greatly simplify the work with cryptocurrency.

9. Bitcoin becomes more accessible to institutional investors.

Exchange-traded funds (ETF), working exclusively with Bitcoin, have enormous potential in terms of attracting institutional investors. GBTC, belonging to Silbert, as well as XBTC run by SolidX, has already made cryptocurrency more attractive to traditional investors, but other ETF appeared on the horizon as well, and they are able to build a bridge between the world of traditional cryptocurrency and finance.

10. Bitcoin becomes a means of values storage

No accident that Bitcoin was called ‘digital gold.’ Barry Silbert expects that traditional investors will take cryptocurrency really seriously, adding it to their investment portfolios.


  • November 17, 2016 11:03 AM MSK