Shervin Pishevar makes it his business to understand what’s going on in the economy. As a founder of Virgin of Hyperloop and as a venture capitalist, his reputation is at stake. In February, he created a tweet storm to discuss a variety of things, including the future of bitcoin.
On several occasions, Shervin Pishevar has said that the future is in digital currencies. While he still believes this, he also thinks that it is not the right time for Bitcoin.
Inflation is spreading and stock markets are crashing. While this is going on, it’s leading to a systemic economic stasis. This will, in turn, cause gold to rise. This will also cause Bitcoin to crash.
Will bitcoin stay crashed? Not according to Shervin Pishevar. He feels that Bitcoin will stabilize over the next 24 months and then have a more stable rise. When this happens, bitcoin will be here to stay.
When bitcoin finally stabilizes out, it can help to launch a new tech wave. He feels that there is a tectonic shift brewing in Silicon Valley, too. The Valley has lost some of its competitive edge and it’s not as innovative as it once was. This is causing a number of problems, including the instability of the bitcoin. After all, if the fintech companies cannot gather enough steam to charge ahead, where does that leave bitcoin?
The good news is that bitcoin is likely going to stabilize somewhere in the 2 to 5k mark, according to Shervin Pishevar.
Bitcoin could still be a good investment. However, it needs to be purchased at a point where it’s at its lowest. He doesn’t believe that it’s there yet. That means that anyone who has been thinking of buying into this digital currency should wait a bit. Once it does drop, it’s only a matter of time before it goes back up, and at a stabilized level.