By Tobi Loba
As the price of BTC keeps displaying reluctant growth in the market, some Bitcoin maximalists remain resolute regarding the future and the capability of the digital currency.
Jameson Lopp, the CTO at Casa recently displayed his stern belief in the cryptocurrency, as he pinpointed the primary function of Bitcoin as “f*ck you money” instead of “store of value”.
Bitcoin (BTC), the largest cryptocurrency by market capitalization has struggled over the years to prove its worth as a safe haven during global financial crisis.
However, without fear or favor, the digital currency has at some points showcased its capability of replacing money in the future. Not just that alone, but to also serve as a store of value such as Gold and other precious metals.
Jameson Lopp Says Bitcoin (BTC) Primary Function is Not Being “Store of Value”
The CTO at Casa and the creator of statoshi.info, James Lopp, has aired what he thinks is the primary function of Bitcoin (BTC) in a recent tweet shared with his over 200,000 followers.
In the tweet, he sentimentally pinpointed that Bitcoin’s major function is to confront and challenge the use cases of conventional money. Could that be really true? It could, however, be considered since that was why the anonymous creator of Bitcoin (BTC), Satoshi Nakamoto reportedly created the digital token in 2009.
He claimed that Bitcoin’s quality of being a “store of value” is the result of its primary function, claiming that BTC’s major function is rather “f*uck you money”.
Bitcoin's primary function is not "store of value" – that's a result of its primary function.
Bitcoin is "fuck you money."For example:
You want to seize my accounts? Fuck you.
You don't want me to buy ______? Fuck you.
You want to steal my wealth via inflation? Fuck you.— Jameson Lopp (@lopp) November 24, 2019
Charles Hoskinson Says Bitcoin Will Attain $100,000
The CEO of Cardano (ADA), Charles Hoskinson has also shared his opinion regarding the future of Bitcoin in terms of price as the downtrend gets more obvious and consistent in the market.
In the trending tweet, he averred that the mission of Bitcoin (cryptocurrency) regarding changing the world is still intact. He then concluded that BTC will break above $10,000 resistance again, and will attain $100,000 someday.
He said, “Bitcoin’s price is going down? Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that’s going to change the world. We will see 10k btc again and welcome 100k. Crypto is unstoppable. Crypto is the future.”
Bitcoin (BTC) Price Trend
Bitcoin (BTC) has been on a huge downtrend over the past few days. Howbeit, this display seems to be the reflection of the accuracy of some cryptocurrency analysts, who have predicted the possibility of Bitcoin retesting $6,000 price region.
The price of the digital currency indeed retraced to the said price region about 48 hours ago, the price some analysts believe would be the bottom of BTC before embarking on its routine price parabolic uptrend.
After Bitcoin retested $6,000 price level that erupted outcry within the crypto community, the digital token then experienced a short price upsurge that aided it to be priced slightly above $7,000 support level.
At the time of filing this report, BTC is trading at $7,112.99, with relatively 3% price downtrend in the last 24 hours. With this price uncertainty beclouding the market at the moment, the price trend of Bitcoin could be somewhat difficult to predict.
Bitcoin Whale Moves 44,000 BTC
Despite the price retracement hugely exhibited by BTC in the crypto market, Bitcoin whales are still moving huge funds from one wallet to another.
As related by Whale Alert, a live cryptocurrency tracker on Twitter, a Bitcoin whale has just moved the sum of 44,000 BTC ($310,923,081.16 at press time) from an unknown wallet to another.