Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ripple’s Chief Technology Officer (CTO), David Schwartz, has provided a clear explanation for why the Bitcoin price remains so high, currently the most expensive cryptocurrency on the market. Notably, Schwartz’s statement had sparked new discussions across the crypto community. His remarks focused on how people view and use BTC in transactions, revealing a simple economic truth that helps explain the market’s continued confidence in the world’s leading cryptocurrency. Ripple CTO Explains Logic Behind Elevated Bitcoin Price
On Tuesday, Schwartz sharedhis thoughts on X, offering a simple but insightful explanation for Bitcoin’s current price strength. Responding to a community member’s question about why anyone would spend BTC given its potential for future appreciation, Schwartz explained that the reason lies in the asset’s perceived value and future expectations. Related Reading Why Did The Bitcoin And Ethereum Prices Crash On October 10 And Will It Happen Again? 2 days ago
According to the Ripple CTO, when individuals use Bitcoin to pay for goods or services, they are essentially realizing the full expected value of its future growth today. Rather than holding Bitcoin as a long-term investmentand waiting for price gains, these users convert its potential into immediate utility. This behavior, he noted, reflects a broader belief in BTC’s enduring value and is one of the primary reasons why the cryptocurrency’s price remains so high.
Notably, Schwartz’s remarks followed a conversation that began when Jack Dorsey, co-founder of Square, a business technology company, announcedthat Bitcoin payments had gone live across the firm’s platforms. Dorsey revealed that Square customers can now pay for services and products usingBitcoin directly, and sellers can choose between multiple settlement options, including BTC-to-BTC, BTC-to-fiat, and fiat-to-BTC transactions. Funds received through Bitcoin payments will be automatically stored in a user’s Square wallet, with self-custody transfer limits of up to $15,000 per day or $50,000 per week.
Interestingly, the timing of Schwartz’s explanation comes a month after BTC reached a new all-time high of over $126,000. Compared to other digital assets, Bitcoin is the only cryptocurrency in the six-figure territory, even surpassing traditional investments like gold and major stock indices. While some analysts argue that Bitcoin is overvalued, many investors remain convinced that it could still climb significantly higher in the long term. Bitcoin Price Expected To Rise Even Higher
The Bitcoin price is currently sitting above the $100,000 level, but analysts believe it could rise even further. The leading cryptocurrency is hovering near $103,300, experiencing some volatility, which has triggered a nearly 2% dip in the past 24 hours amid whale capitulations. Crypto analyst Joe Francesco notedthat Bitcoin had initially surged to $107,000 following a wave of optimism sparked by US President Donald Trump’s proposed $2,000 stimulus plan. Related Reading New XRP ETF Just Dropped, But Will Anything Be Different This Time? 5 days ago Source: X
However, the rally proved short-lived, as BTC fella few days later. Despite the pullback, Francesco has described the cryptocurrency’s chart setup as positive, predicting that Bitcoin could soon break through $107,000, with the potential to reach $115,000 and even $120,000 if upward momentum continues. BTC price sees sharp recovery | Source:BTCUSD on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com